-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 VQxlEAsVc4ffkAC36/luDdVrOCW/Bw98Nq03apbuhzCyvH7Hox7m75bu54xhxPkY
 9xgFiv9Xmh+3gtrqYlaK8w==

<SEC-DOCUMENT>0000950134-05-008028.txt : 20050425
<SEC-HEADER>0000950134-05-008028.hdr.sgml : 20050425
<ACCEPTANCE-DATETIME>20050425141614
ACCESSION NUMBER:		0000950134-05-008028
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20050603
FILED AS OF DATE:		20050425
DATE AS OF CHANGE:		20050425
EFFECTIVENESS DATE:		20050425

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRIMEENERGY CORP
		CENTRAL INDEX KEY:			0000056868
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				840637348
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-07406
		FILM NUMBER:		05769672

	BUSINESS ADDRESS:	
		STREET 1:		ONE LANDMARK SQ
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06901
		BUSINESS PHONE:		2033585700

	MAIL ADDRESS:	
		STREET 1:		ONE LANDMARK SQ
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06901

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KRM PETROLEUM CORP
		DATE OF NAME CHANGE:	19900614
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>d24142ddef14a.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>def14a</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="70%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="13%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="15%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3" nowrap align="center"><FONT size="2">OMB APPROVAL</FONT></TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3" nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
OMB Number:
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">3235-0059</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Expires:
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>

<TD nowrap align="right" valign="top"><FONT size="2">February&nbsp;28, 2006</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="2" nowrap align="left" valign="top"><FONT size="2">Estimated average burden<br>hours per

response</FONT></TD>

        <TD align="right" valign="bottom"><FONT size="2">12.75</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center"><font size="2"><B>UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B>
</font>

<P align="center"><FONT size="2"><B>SCHEDULE 14A</B>
</FONT>


<P align="center"><FONT size="2">Proxy Statement Pursuant to Section 14(a) of the Securities<BR>
Exchange Act of 1934 (Amendment No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;)
</FONT>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">Filed by the Registrant &nbsp;&nbsp;<FONT face="wingdings">&#120;</FONT></FONT></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">Filed by a Party other than the Registrant &nbsp;&nbsp;<FONT face="wingdings">&#111;</FONT></FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">Check the appropriate box:</FONT></TD>
</TR>
</TABLE>
<p>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>

<TD><FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;&nbsp; Preliminary Proxy Statement</FONT></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>

<TD><FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;&nbsp;
<B>Confidential, for Use of the Commission Only (as permitted by
Rule&nbsp;14a-6(e)(2))</B></FONT></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>

<TD><FONT size="2"><FONT face="wingdings">&#120;</FONT>&nbsp;&nbsp; Definitive Proxy Statement</FONT></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;&nbsp; Definitive Additional Materials</FONT></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>

<TD><FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;&nbsp;
Soliciting Material Pursuant to &#167;240.14a-12</FONT></TD>
</TR>
</TABLE>


<P align="center"><FONT size="2"></FONT>
<center>
<P align="center"><FONT size="2">PRIMEENERGY CORPORATION<HR size="1" noshade>
(Name of Registrant as Specified In Its Charter)
</FONT>
</center>
<p>
<center>
<P align="center"><FONT size="2"><HR size="1" noshade>(Name of Person(s) Filing Proxy
Statement, if other than the Registrant)
</FONT>
</center>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment of Filing Fee (Check the appropriate box):
</FONT>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>

<TD><FONT size="2"><FONT face="wingdings">&#120;</FONT>&nbsp;&nbsp; No fee required.</FONT></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>

<TD><FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;&nbsp;
Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(4) and
0-11.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1)&nbsp;Title of each class of securities to which transaction applies:</FONT></TD>
</TR>
</TABLE>
<HR size="1" noshade>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2)&nbsp;Aggregate number of securities to which transaction applies:</FONT></TD>
</TR>
</TABLE>
<HR size="1" noshade>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3)&nbsp;Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule&nbsp;0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined):</FONT></TD>
</TR>
</TABLE>
<HR size="1" noshade>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4)&nbsp;Proposed maximum aggregate value of transaction:</FONT></TD>
</TR>
</TABLE>
<HR size="1" noshade>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5)&nbsp;Total fee paid:</FONT></TD>
</TR>
</TABLE>
<HR size="1" noshade>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="wingdings">&#111;</FONT>&nbsp;&nbsp; Fee paid previously with preliminary materials.</FONT></TD>
</TR>
</TABLE>
<HR size="1" noshade>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="wingdings">&#111;</FONT>&nbsp;&nbsp; Check box if any part of the fee is offset as provided by Exchange Act
Rule&nbsp;0-11(a)(2) and identify the filing for which the offsetting fee
was paid previously. Identify the previous filing by registration
statement number, or the Form or Schedule and the date of its filing.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1)&nbsp;Amount Previously Paid:</FONT></TD>
</TR>
</TABLE>
<HR size="1" noshade>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2)&nbsp;Form, Schedule or Registration Statement No.:</FONT></TD>
</TR>
</TABLE>
<HR size="1" noshade>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3)&nbsp;Filing Party:</FONT></TD>
</TR>
</TABLE>
<HR size="1" noshade>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4)&nbsp;Date Filed:</FONT></TD>
</TR>
</TABLE>
<HR size="1" noshade>

<p>
<center>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="20%"></TD>
        <TD width="80%"></TD>
</TR>
<TR valign="top">
        <TD valign="bottom"><font size="2">SEC 1913 (02-02)</font></TD>
        <TD><font size="2"><b>Persons who are to respond to the collection of information
contained in this form are not required to respond unless the form displays a currently valid
OMB control number.</b></font></TD>
</TR>
</TABLE>
</center>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center">
<B>NOTICE OF ANNUAL MEETING OF STOCKHOLDERS OF</B>

<P align="center">
<B><FONT size="5">PrimeEnergy Corporation</FONT></B>

<P align="center">
<B><FONT size="2">TO BE HELD</FONT></B>

<P align="center">
<B><FONT size="2">JUNE 3, 2005</FONT></B>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Notice is hereby given that the Annual Meeting of
Stockholders of PrimeEnergy Corporation will be held on Friday,
June&nbsp;3, 2005, at 8:30&nbsp;a.m., EDT, at the Roger Sherman
Inn, New Caanan, Connecticut, for the following purposes:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">1.&nbsp;To elect a Board of Directors of
    eight&nbsp;(8) persons as nominated in the accompanying Proxy
    Statement, such Directors to hold office until the next annual
    meeting of stockholders and until their successors are elected;
    and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">2.&nbsp;To transact such other procedural
    business as may properly be brought before the Meeting or at any
    adjournment or adjournments thereof.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Meeting may be adjourned from time to time
without other notice than by announcement at the Meeting, or at
any adjournment thereof, and any and all business for which the
Meeting is hereby noticed may be transacted at any such
adjournment.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors has fixed April&nbsp;13,
2005, as the date for the taking of a record of the stockholders
entitled to notice of and to vote at the Meeting and at any
adjournment or adjournments thereof. The stock transfer books
will not be closed.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Enclosed is a form of proxy solicited by the
Board of Directors of the Company. Stockholders who do not plan
to attend the Meeting in person are requested to date, sign and
return the enclosed proxy in the enclosed envelope, to which no
postage need be affixed if mailed in the United States. Your
proxy may be revoked at any time before it is exercised and will
not be used if you attend the Meeting and prefer to vote in
person.
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">BY ORDER OF THE BOARD OF
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">DIRECTORS
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <IMG src="d24142dd2414210.gif" alt="-s- JAMES F. GILBERT" align="left"></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">JAMES F. GILBERT
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <I><FONT size="2">Secretary</FONT></I></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">April&nbsp;25, 2005
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">SECURITIES OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">DIRECTORS AND EXECUTIVE OFFICERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">CODE OF BUSINESS CONDUCT AND ETHICS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">EXECUTIVE COMPENSATION AND OTHER MATTERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">SUMMARY COMPENSATION TABLE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">COMPENSATION COMMITTEE REPORT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">STOCK OPTION GRANTS, OPTIONS EXERCISES AND HOLDINGS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007">SECTION 16(a) BENEFICIAL OWNER COMPLIANCE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">STOCK PERFORMANCE GRAPH</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">INDEPENDENT PUBLIC ACCOUNTANTS -- FEES AND SERVICES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#010">AUDIT COMMITTEE REPORT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">STOCKHOLDERS&#146; PROPOSALS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012">ANNUAL REPORT AND FINANCIAL STATEMENTS</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="center">
<B><FONT size="5">PrimeEnergy Corporation</FONT></B>
</DIV>

<P align="center">
<B><FONT size="2">One Landmark Square</FONT></B>

<DIV align="center">
<B><FONT size="2">Stamford, Connecticut 06901</FONT></B>
</DIV>

<P align="center">
<B>PROXY STATEMENT</B>

<P align="center">
<B><FONT size="2">Solicitation by the Board of Directors of
Proxies from</FONT></B>

<DIV align="center">
<B><FONT size="2">Stockholders for Annual Meeting of
Stockholders</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">June 3, 2005</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors of PrimeEnergy
Corporation, a Delaware corporation, (hereinafter called the
&#147;Company&#148;) solicits your proxy in the enclosed form
which, if you do not plan to attend the Annual Meeting of
Stockholders of the Company on Friday, June&nbsp;3, 2005, you
are requested to fill out, sign as indicated and return to the
Company in the enclosed self-addressed envelope, which requires
no postage if mailed in the United States. Any proxy given
pursuant to this solicitation may be revoked by the person
giving it at any time before it is exercised by notice in person
or in writing to the Company. The approximate day on which the
proxy statement and form of proxy will be sent to security
holders is April&nbsp;25, 2005.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Proxies are being solicited by mail and all
expenses of solicitation have been or will be borne by the
Company. In addition, arrangements may be made with brokerage
houses and other custodians, nominees and fiduciaries to send
proxies and proxy material to their principals, and the Company
will reimburse them for their expenses in so doing.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Only stockholders of record at the close of
business on April&nbsp;13, 2005, are entitled to vote at the
2005 Annual Meeting. At that date, the Company had outstanding
and entitled to vote 3,460,945&nbsp;shares of Common Stock, each
share entitling the record holder thereof to one vote.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All shares of the Company represented by proxies
received in time and in proper form and condition and not
revoked will be voted as specified in the proxy; or in the
absence of specific direction, the proxy will be voted by the
person designated therein:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">FOR the election as Directors of the Company of
    the eight&nbsp;(8) nominees named below, to hold office until
    the next annual meeting of stockholders and until their
    respective successors shall be duly elected. In the event any of
    the nominees should become unable to serve as a Director, the
    proxies will be voted in accordance with the best judgment of
    the person acting under it.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The election of Directors will require the
affirmative votes of a plurality of the shares of the Common
Stock voting in person or by proxy at the Annual Meeting. The
Company&#146;s transfer agent will tabulate all votes which are
received prior to the date of the Annual Meeting. The Company
will appoint two inspectors of election, who may be officers or
employees, to receive the transfer agent&#146;s tabulation, to
tabulate all other votes, and to certify the results of the
elections. Abstentions and broker non-votes are each included in
the determination of the number of shares present and voting
(i.e., for quorum purposes), but shall not be counted.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The management knows of no matter to be submitted
to the 2005 Annual Meeting with respect to which the
stockholders are entitled to vote other than the election of
Directors, but if procedural matters do properly come before the
Meeting, the persons named in the proxy will vote according to
their best judgment.
</FONT>

<P align="center">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "SECURITIES OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="center">
<B><FONT size="2">SECURITIES OWNERSHIP OF CERTAIN</FONT></B>

<DIV align="center">
<B><FONT size="2">BENEFICIAL OWNERS AND MANAGEMENT</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table sets forth the number and
percentage of shares of the Common Stock of the Company owned
beneficially by any person, including any &#147;group&#148; as
that term is defined in Section 12d(3) of the Securities
Exchange Act of 1934, known to the Company to be the beneficial
owner of five percent (5%) or more of the Common Stock, as of
April&nbsp;13, 2005. Information as to beneficial ownership is
based upon statements furnished to the Company by such persons.
Except as indicated, all shares are held directly, with full
voting and dispositive powers, and percentages are calculated on
the basis of the shares issued and outstanding, and with respect
to those named persons holding options presently exercisable or
within 60 days of April&nbsp;13, 2005, includes the number of
shares to be issued upon exercise of such options.
</FONT>

<CENTER>
<TABLE width="50%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="15%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="15%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Amount and Nature</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Name and Address</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">of Beneficial</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Percent</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">of Beneficial Owner</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Ownership</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">of Class</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">Charles E. Drimal, Jr.
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">1,205,006</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">(1)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">29.0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">One Landmark Square<BR>
    Stamford, Connecticut 06901
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="9"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">McJunkin Corporation
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">673,521</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">19.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">835 Hillcrest Drive<BR>
    Charleston, West Virginia 25311
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="9"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">Amrace, Inc.
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">493,732</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">14.3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">1251 Avenue of the Americas<BR>
    51st Floor<BR>
    New York, New York 10020
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="9"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">Matthias Eckenstein
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">240,829</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">7.0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">Solothurner Str 94<BR>
    4008 Basel, Switzerland
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="9"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">Clint Hurt
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">221,250</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">(3)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">6.4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">107 North &#147;N&#148;<BR>
    Midland, Texas 79701
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="9"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">Jan K. Smeets
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">207,500</FONT></TD>
    <TD align="left" valign="top" nowrap><FONT size="2">(2)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">6.0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">9 Locust Avenue<BR>
    Larchmont, New York 10538
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
<HR size="1" width="18%" align="left" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 507,506 shares held directly and
    697,500&nbsp;shares subject to options all presently exercisable.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 2,500&nbsp;shares held by
    Mr.&nbsp;Smeets for each of his three children.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(3)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Shares held of record by Clint Hurt &#38;
    Associates, Inc., a private company controlled by Mr.&nbsp;Hurt.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">2
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table sets forth information at
April&nbsp;13, 2005, with respect to the shares of the
Company&#146;s Common Stock beneficially owned by the
Company&#146;s Directors and nominees and by all Directors and
officers of the Company as a group:
</FONT>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="47%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="12%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="12%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="22%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Amount</FONT></B></TD>
    <TD></TD>
    <TD></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Beneficially</FONT></B></TD>
    <TD></TD>
    <TD></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Name</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Owned(1)</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Percent&nbsp;of&nbsp;Class&nbsp;(1)</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Beverly A. Cummings
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">85,000</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(2)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="bottom">
    <FONT size="2">2.4
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Charles E. Drimal, Jr.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,205,006</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(3)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="bottom">
    <FONT size="2">29.0
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Matthias Eckenstein
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">240,829</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="bottom">
    <FONT size="2">7.0
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">H. Gifford Fong
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">76,532</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="bottom">
    <FONT size="2">2.2
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Thomas S. T. Gimbel
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">50,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="bottom">
    <FONT size="2">1.4
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Clint Hurt
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">221,250</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(4)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="bottom">
    <FONT size="2">6.4
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Jan K. Smeets
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">207,500</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(5)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="bottom">
    <FONT size="2">6.0
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Gaines Wehrle
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">none</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(6)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="bottom">
    <FONT size="2">NIL
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">All Directors and officers as a group
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2,086,117</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(2)(3)(4)(5)(6)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="bottom">
    <FONT size="2">49.3
    </FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
<HR size="1" width="18%" align="left" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Unless otherwise indicated, all shares are owned
    directly and the holder thereof has sole voting and investment
    powers with respect thereto, and percentages are calculated on
    the basis of the shares issued and outstanding, and with respect
    to those persons, or group, holding options presently
    exercisable or within 60&nbsp;days, includes the number of
    shares to be issued upon exercise of such options.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 15,000&nbsp;shares held directly and
    70,000 shares subject to options all presently exercisable.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(3)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 507,506&nbsp;shares held directly and
    697,500&nbsp;shares subject to options all presently exercisable.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(4)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Shares held of record by Clint Hurt&nbsp;&#38;
    Associates, Inc., a private company controlled by Mr.&nbsp;Hurt.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(5)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 2,500&nbsp;shares held by
    Mr.&nbsp;Smeets for each of his three children.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(6)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Does not include any beneficial ownership of
    Mr.&nbsp;Wehrle in 673,521&nbsp;shares held of record by
    McJunkin Corporation, a private company, by reason of his
    position with, or ownership of interests in, McJunkin
    Corporation.
    </FONT></TD>
</TR>

</TABLE>

<!-- link1 "DIRECTORS AND EXECUTIVE OFFICERS" -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="center">
<B><FONT size="2">DIRECTORS AND EXECUTIVE OFFICERS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">There will be submitted by the management to the
2005 Annual Meeting for election as Directors, the
eight&nbsp;(8) nominees whose names, together with certain
information concerning them, are set out below. In the event any
of the nominees shall become unable to serve as a Director, the
proxy will be voted in accordance with the best judgment of the
person acting under it; however, no circumstances are at present
known which would render any nominee unavailable.
</FONT>

<CENTER>
<TABLE width="90%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="26%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="21%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Offices Held</FONT></B></TD>
    <TD></TD>
    <TD></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">With The</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Director</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Nominee</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Age</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Principal Occupation</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Company</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Since</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Beverly A. Cummings
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">52</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Executive Vice President and Treasurer of the
    Company; Executive Vice President of PrimeEnergy Management
    Corporation
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Director; Executive Vice President and Treasurer
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">February<BR>
    1988
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Charles E. Drimal, Jr.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">57</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">President of the Company; President of
    PrimeEnergy Management Corporation
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Director; President
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">October<BR>
    1987
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Matthias Eckenstein
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">75</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Architect and Developer,<BR>
    Basel, Switzerland
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Director
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">August<BR>
    1989
    </FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="center"><FONT size="2">3
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<CENTER>
<TABLE width="90%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="26%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="21%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Offices Held</FONT></B></TD>
    <TD></TD>
    <TD></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">With The</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Director</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Nominee</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Age</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Principal Occupation</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Company</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Since</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">H. Gifford Fong
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">60</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Investment Technology<BR>
    Consultant, Lafayette,<BR>
    California
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Director
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">May<BR>
    1994
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Thomas S. T. Gimbel
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">50</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Managing Director, Business and Product
    Development, Optima Fund Management LLC, New York, New York
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Director
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">March<BR>
    1989
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Clint Hurt
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">69</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">President, Clint Hurt&nbsp;&#38; Associates,
    Inc., a private oil and gas exploration company, Midland, Texas
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Director
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">February<BR>
    1988
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Jan K. Smeets
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">57</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Private Investor,<BR>
    Larchmont, New York
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Director
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">February<BR>
    1988
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Gaines Wehrle
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">47</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Executive Vice President, McJunkin Corporation,
    Charleston, West Virginia
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Director
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">May<BR>
    1987
    </FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All of the above named nominees are currently
Directors of the Company, and each has served continuously as a
Director since the date indicated. There is no family
relationship between any nominee for Director or executive
officer of the Company. By agreements entered into in October,
1987, and so long as McJunkin Corporation shall be the holder of
ten percent or more of the Company&#146;s Common Stock, McJunkin
Corporation may nominate two persons for election as Directors
of the Company. McJunkin Corporation has elected to designate
one person, Mr.&nbsp;Gaines Wehrle, as a nominee for election as
a Director at the 2005 Annual Meeting.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors met three times in 2004.
All of the incumbent Directors attended at least 75% of the
meetings of the Board except Messrs. Eckenstein and Wehrle.
Directors are reimbursed for travel and related expenses in
connection with attendance at Board and committee meetings. All
Directors receive $500 for each Board meeting attended. All
Directors are encouraged to attend the Company&#146;s annual
meeting of stockholders. All Directors attended the
Company&#146;s 2004 annual meeting of stockholders except
Mr.&nbsp;Eckenstein.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors has an Executive
Committee, an Audit Committee and a Compensation Committee, but
no other standing committees. All Committee members attended all
meetings of their respective Committees.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Executive Committee, composed of
Messrs.&nbsp;Drimal, Jr., Hurt, Smeets and Ms.&nbsp;Cummings, is
authorized to exercise all the authority of the Board in the
business and affairs of the Company, except as limited by
applicable law. The Executive Committee met three times during
2004, and informally, by telephone or office conference on a
regular basis, usually weekly, during the year.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee, composed of
Messrs.&nbsp;Eckenstein, Hurt and Smeets, met twice in 2004. The
Board of Directors believes that the Audit Committee members
satisfy applicable requirements for independence, financial
literacy and expertise. The Committee selects and engages
independent auditors to audit the books, records and accounts of
the Company, determines the scope of such audits, and reviews
the financial policies and control procedures of the Company.
The report of the Audit Committee is included in this Proxy
Statement on page&nbsp;11. The Board of Directors and the Audit
Committee have adopted a written charter for the Audit
Committee, a copy of which was attached as Annex A to the
Company&#146;s proxy statement delivered with respect to the
Company&#146;s annual meeting of stockholders in June, 2004.
</FONT>

<P align="center"><FONT size="2">4
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Compensation Committee, composed of
Messrs.&nbsp;Hurt, Gimbel and Smeets, met once in 2004. The
Committee evaluates the Company&#146;s compensation policies and
establishes salaries, bonuses and other compensation for the
Company&#146;s executive officers. The Board of Directors
believes that the Compensation Committee members satisfy
applicable regulatory requirements for independence. The report
of the Compensation Committee is included in this Proxy
Statement on page&nbsp;eight. The Board of Directors and the
Compensation Committee have adopted a written charter, a copy of
which was attached as Annex B to the Company&#146;s proxy
statement delivered with respect to the Company&#146;s annual
meeting of stockholders in June, 2004.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Company does not have a standing nominating
committee. The Board of Directors of the Company acts as the
nominating committee, Mr.&nbsp;Drimal and Ms.&nbsp;Cummings
abstaining, in the review and selection of Directors for
election at the annual meeting of the Company&#146;s
stockholders. The remaining Directors of the Company,
Messrs.&nbsp;Eckenstein, Fong, Gimbel, Hurt, Smeets and Wehrle
function as a nominating committee, and are believed to satisfy
applicable regulatory requirements for independence. The Board
of Directors believes that this procedure is adequate in the
process of selecting persons for elections as directors of the
Company. The Board of Directors of the Company has previously
adopted a charter for a nominating committee, which was attached
as Annex&nbsp;C to the Company&#146;s proxy statement delivered
with respect to the Company&#146;s annual meeting of
stockholders held in June, 2004, and the members of the
Company&#146;s Board of Directors functioning in the nomination
of directors relies upon, and is governed by such charter. The
eight Directors of the Company currently serving as Directors
were designated as nominees for re-election at the 2005 Annual
Meeting of Stockholders. No other nominees were considered and
no nominations were proposed by any stockholder or group. The
Board of Directors will consider meritorious director candidates
submitted to it by stockholders of the Company. Candidates for
election must be willing to devote the time necessary to serve
as a director and must possess the level of education,
experience, and expertise, both with respect to financial
matters and the oil and gas industry in general, required to
perform the duties of a member of the board of directors of a
public company, and in particular of the Company. Submission
must be accompanied by biographical material of the proposed
candidate and such other information as would be required to be
included in a proxy statement filed pursuant to the proxy rules
of the Securities and Exchange Commission. Submissions should be
forwarded to the Secretary of the Company at One Landmark
Square, Stamford, Connecticut 06901, in compliance with the
procedures described under &#147;Stockholders&#146;
Proposals&#148; set out below.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The executive officers of the Company, together
with certain information concerning them, are set out below.
</FONT>

<CENTER>
<TABLE width="50%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="45%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="41%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Offices Held</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Officer</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Age</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">With&nbsp;the&nbsp;Company</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Charles E. Drimal, Jr.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">57
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">President
    </FONT></DIV>
    </TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Beverly A. Cummings
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">52
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Executive Vice President<BR>
    and Treasurer
    </FONT></DIV>
    </TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">James F. Gilbert
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2">72
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Secretary
    </FONT></DIV>
    </TD>
</TR>

</TABLE>
</CENTER>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Each of the above officers were elected by the
Board of Directors to their respective offices in June, 2004, at
the annual meeting of the Board and each will hold their
respective offices until their successors are elected by the
Board.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The principal occupation and employment for the
past five years of each of the Directors and nominees for
Director and of each of the executive officers of the Company is
as follows:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Ms. Cummings is a Certified Public Accountant and
holds a Bachelor of Science degree from the State University of
New York and a Master of Business Administration from Rutgers
University. She has been Vice President, Finance of PrimeEnergy
Management Corporation since August, 1985, Secretary from May,
1983, to June, 1990, and was Controller from June, 1981, to
January, 1986, and is a director of PrimeEnergy Management. She
was elected Vice President, Finance and Treasurer of the Company
in October, 1987, and Executive Vice President and Treasurer in
May, 1991. She has served as a Director of the Company since
February, 1988.
</FONT>

<P align="center"><FONT size="2">5
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr. Charles E. Drimal, Jr. has served as a
Director and President and Chief Executive Officer of the
Company since October, 1987. He also is President and a director
of PrimeEnergy Management Corporation, the Company&#146;s
wholly-owned subsidiary and has held those positions since May,
1983. Mr. Drimal is a graduate of the University of Maryland and
Samford University School of Law and is a member of the New York
State Bar.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr. Eckenstein is a Swiss citizen and a resident
of Switzerland. He studied law and architecture in Basel,
Switzerland, and at the University of Geneva and the Ecole des
Beaux Arts, Paris, France. He is a director and principal in
several privately held companies providing financial consulting
services in construction, hotel management and architectural
matters. He was elected a Director of the Company in August,
1989.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr. Fong is president of Gifford Fong Associates,
investment technology consultants, Lafayette, California. He
holds a Bachelor of Science, a Master of Business Administration
and law degrees from the University of California. He is the
editor of The Journal of Investment Management and is the author
and contributor of numerous trade journal publications.
Mr.&nbsp;Fong was elected a Director of the Company in May, 1994.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr. Gimbel has held the position of Managing
Director, Business and Product Development, Optima Fund
Management LLC, New York, since July, 2004. Prior to that date,
and from January, 1999, he was the Managing Director of Hedge
Fund Investments at Credit Suisse Asset Management, New York.
Mr.&nbsp;Gimbel holds a Bachelor of Arts degree in economics
from Bowdoin College and a Master of Business Administration
from Columbia University Graduate School of Business. He was
elected a Director of the Company in March, 1989.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr. Hurt is president of Clint Hurt &#38;
Associates, Inc., a private oil and gas exploration company
located in Midland, Texas. He is past president of the
Independent Oil &#38; Gas Association of West Virginia and is a
former director of Chase Bank of Texas, Midland, Texas. He was
elected a Director of the Company in February, 1988.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr. Smeets, a citizen of the Netherlands and a
resident of the United States, is a private investor in
Larchmont, New York. He was elected as a Director of the Company
in February, 1988. He is a graduate of M.I.T. and holds a Master
of Business Administration from Stanford Business School.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr. Wehrle is Executive Vice President of
McJunkin Corporation, Charleston, West Virginia, a privately
held company and has held that position since February, 2005.
Prior to that date, and from April, 1987, he held the position
of Senior Vice President of McJunkin Corporation. McJunkin
Corporation is a national distributor, primarily of pipes,
valves and fittings. He was elected a Director of the Company in
May, 1987.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr. Gilbert has been Secretary of the Company
from March, 1973, and serves as secretary of the Company&#146;s
subsidiaries. He is an attorney in Dallas, Texas.
</FONT>

<P align="center"><FONT size="2">6
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "CODE OF BUSINESS CONDUCT AND ETHICS" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="center">
<B><FONT size="2">CODE OF BUSINESS CONDUCT AND ETHICS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Company is committed to observing sound,
ethical principles in the conduct of its business and operations
and by our officers and employees in the course of their duties.
The Company has adopted a Code of Business Conduct and Ethics
which is available at the Company&#146;s web-site,
www.primeenergy.com. These provisions are applicable to the
Company&#146;s operations and to its employees, including the
Company&#146;s principal executive officer and principal
financial officer. Any amendments or waivers from the Code, to
the extent applicable to the Company&#146;s principal executive
officers, will be posted on the Company&#146;s web-site.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Company believes that a majority of its
Directors, and nominees, are &#147;independent&#148;, within the
meaning of applicable regulatory standards.
</FONT>

<!-- link1 "EXECUTIVE COMPENSATION AND OTHER MATTERS" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="center">
<B><FONT size="2">EXECUTIVE COMPENSATION AND OTHER
MATTERS</FONT></B>

<P align="left">
<B><FONT size="2">Summary Compensation Table</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table discloses compensation for
the last three fiscal years ended December&nbsp;31, 2004,
received by the Company&#146;s Chief Executive Officer and the
only other executive officer of the Company and its subsidiaries.
</FONT>

<DIV>&nbsp;</DIV>

<!-- link1 "SUMMARY COMPENSATION TABLE" -->
<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="center">
<B><FONT size="2">SUMMARY COMPENSATION TABLE</FONT></B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Long-term</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Compensation</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Awards</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="11"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Other</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="11" align="center" nowrap><B><FONT size="1">Annual Compensation</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Annual</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">(2)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">All Other</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2" align="center" nowrap><B><FONT size="1">Name and Principal</FONT></B></TD>
    <TD></TD>
    <TD colspan="11" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Compensation</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Options</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Compensation</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2" align="center" nowrap><B><FONT size="1">Position(1)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Year</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Salary($)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Bonus($)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">($)(3)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">(#)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">($)(4)</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Charles E. Drimal, Jr.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2004</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">252,569</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">750,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">9,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">President, Chief
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">245,212</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">650,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">8,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Executive Officer
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">238,070</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">500,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">9,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">and Director
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Beverly A. Cummings
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2004</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">252,569</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">300,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">9,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Executive Vice
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">245,212</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">260,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">8,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">President, Treasurer
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">238,070</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">200,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">9,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">and Director
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Each of the named officers hold similar positions
    with the Company&#146;s subsidiaries and also serve as directors
    of each of the subsidiaries.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">References to &#147;Restricted Stock
    Awards&#148;, &#147;SARs&#148; and &#147;LTIP Payouts&#148; in
    the Summary Compensation Table and to SARs in the Fiscal Year
    End Option Values table below have been omitted as the Company
    has no Restricted Stock Awards, SARs or LTIP Payouts.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(3)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes $1,500 paid to each of Mr.&nbsp;Drimal
    and Ms.&nbsp;Cummings as Director&#146;s fees in 2002, 2003 and
    2004.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(4)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The amounts in this column represents the
    Company&#146;s contributions to its 401(k) plan to each of the
    named officers for the years indicated.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">7
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "COMPENSATION COMMITTEE REPORT" -->
<DIV align="left"><A NAME="005"></A></DIV>

<P align="center">
<B><FONT size="2">COMPENSATION COMMITTEE REPORT</FONT></B>

<P align="left">
<B><FONT size="2">The Compensation Committee reports as
follows:</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Under rules established by the Securities and
Exchange Commission, the Company is required to provide certain
information regarding the compensation of its Chief Executive
Officer and other executive officers whose salary and bonus
exceed $100,000&nbsp;per year. Disclosure requirements include a
report explaining the rationale and considerations that lead to
fundamental executive compensation decisions. The following
report has been prepared to fulfill this requirement.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Compensation Committee of the Board of
Directors sets and administers the policies that govern the
annual compensation and long-term compensation of executive
officers of the Company. The Compensation Committee consists of
Messrs.&nbsp;Gimbel, Hurt and Smeets, none of whom is an
employee of the Company. The Compensation Committee makes all
decisions concerning compensation of executive officers who
receive salary and bonus in excess of $100,000 annually and
determine the total amount of bonuses to be paid annually. The
Compensation Committee&#146;s policy is to offer executive
officers competitive compensation packages that will permit the
Company to attract and retain highly qualified individuals and
to motivate and reward such individuals on the basis of the
Company&#146;s performance.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">At present, the executive compensation package
consists of base salary and cash bonus awards. Executive
salaries are reviewed by the Compensation Committee on an annual
basis and are set for individual executive officers based on
subjective evaluations of each individual&#146;s performance and
the Company&#146;s performance.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Cash bonuses may be awarded on an annual basis
for effort and performance. The use of a specific formula to
evaluate management performance is not employed because it is
difficult to define an appropriate formula and it restricts the
flexibility of the Compensation Committee. The Compensation
Committee considers the achievements of the Company,
specifically including earnings for the year, return on
stockholders&#146; equity and growth in proved oil and natural
gas reserves, in determining appropriate levels for bonus
awards. Following a review of the Company&#146;s performance at
December 2004, the Compensation Committee determined that cash
bonuses should be awarded, set a total dollar limit for the
bonus pool and awarded cash bonuses to the executive officers,
based upon contribution to the Company&#146;s performance during
the year.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The compensation of the Chief Executive Officer
is largely dependent upon the overall performance of the
Company. For the year ended December&nbsp;31, 2004, the base
salary of the Chief Executive Officer of the Company, Charles E.
Drimal,&nbsp;Jr., increased 3&nbsp;percent to $252,569 from
$245,212, and a cash bonus award of $750,000 was paid.
</FONT>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Compensation Committee
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Clint Hurt, Chairman
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Thomas S. T. Gimbel
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Jan K. Smeets
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">8
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This report of the Compensation Committee shall
not be deemed incorporated by reference by any general statement
incorporating by reference this Proxy Statement into any filing
under the Securities Act of 1933, as amended, or the Securities
Exchange Act of 1934, as amended, except to the extent that the
Company specifically incorporates this information by reference,
and shall not otherwise be deemed filed under such Acts.
</FONT>

<P align="left">
<B><FONT size="2">Compensation Committee Interlocks and Insider
Participation</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">During the fiscal year ended December&nbsp;31,
2004, Messrs.&nbsp;Clint Hurt, Thomas&nbsp;S.T. Gimbel and
Jan&nbsp;K. Smeets served as members of the Compensation
Committee. None of such persons was, during the fiscal year, or
was formerly, an officer or employee of the Company or any of
its subsidiaries. There are no committee interlocks with other
companies within the meaning of the Securities and Exchange
Commission&#146;s rules.
</FONT>

<!-- link1 "STOCK OPTION GRANTS, OPTIONS EXERCISES AND HOLDINGS" -->
<DIV align="left"><A NAME="006"></A></DIV>

<P align="center">
<B><FONT size="2">STOCK OPTION GRANTS, OPTIONS EXERCISES AND
HOLDINGS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">There were no stock options granted by the
Company to the named executive officers during the fiscal year
ended December&nbsp;31, 2004 and no options were exercised by
any of such persons. The following table sets forth information
with respect to all unexercised options held by the named
executive officers of the Company at December&nbsp;31, 2004. All
unexercised options are fully exercisable. References to SARs in
the table below have been omitted as the Company has no SARs.
</FONT>

<P align="center">
<B><FONT size="2">Unexercised Options and Fiscal Year End Option
Values</FONT></B>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="54%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Number of</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Value of Unexercised</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Unexercised Options at</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">In-the-Money Options at</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Fiscal Year-End (#)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Fiscal Year-End(1)</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Name</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Exercisable</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Exercisable</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Charles E. Drimal, Jr.
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">697,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">13,599,506</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">Beverly A. Cummings
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">70,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,364,025</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
<HR size="1" width="18%" align="left" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The average bid price of the Company&#146;s
    Common Stock on December&nbsp;31, 2004, as reported in the
    over-the-counter market, was $20.56.
    </FONT></TD>
</TR>

</TABLE>

<!-- link1 "SECTION 16(a) BENEFICIAL OWNER COMPLIANCE" -->
<DIV align="left"><A NAME="007"></A></DIV>

<P align="center">
<B><FONT size="2">SECTION&nbsp;16(a) BENEFICIAL OWNER
COMPLIANCE</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Section 16(a) of the Securities Exchange Act of
1934 requires the Company&#146;s executive officers and
Directors, and persons who own more than ten percent of a
registered class of the Company&#146;s equity securities, to
file reports of ownership and changes in ownership of such
securities with the Securities and Exchange Commission and to
furnish the Company with copies of such reports. To the
Company&#146;s knowledge, based solely on review of the copies
of such reports furnished to the Company with respect to the
fiscal year ended December&nbsp;31, 2004, all required reports
were timely filed by such persons.
</FONT>

<P align="center"><FONT size="2">9
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "STOCK PERFORMANCE GRAPH" -->
<DIV align="left"><A NAME="008"></A></DIV>

<P align="center">
<B><FONT size="2">STOCK PERFORMANCE GRAPH</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following graph illustrates the yearly
percentage change in the cumulative stockholder return on our
common stock, compared with the cumulative total return on The
Nasdaq Stock Market (U.S.&nbsp;Companies) Index and the Nasdaq
Stocks&nbsp;&#151; Crude Petroleum and Natural Gas Extraction
Index, for the five years ended December&nbsp;31, 2004.
</FONT>

<P align="center">
<B><FONT size="2">PRIMEENERGY CORPORATION STOCK PRICE vs. NASDAQ
AND NASDAQ E&#38;P INDICES</FONT></B>

<P align="center">
<B><FONT size="2">Comparison of Five Year Cumulative Total
Return</FONT></B>

<DIV align="center">
<B><FONT size="2">Value of Investment of $100 on
December&nbsp;31, 1999</FONT></B>
</DIV>

<P align="center">
<IMG src="d24142dd2414214.gif" alt="(PERFORMANCE GRAPH)">

<P align="right">
<FONT size="2">As of December&nbsp;31
</FONT>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="29%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="25"></TD>
</TR>

<TR>
    <TD colspan="25" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">1999</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">2000</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">2001</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">2002</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">2003</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">2004</FONT></B></TD>
</TR>

<TR>
    <TD colspan="25"></TD>
</TR>

<TR>
    <TD colspan="25" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">&nbsp;PrimeEnergy Corporation
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">100</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">150.09</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">167.56</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">168.40</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">303.12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">439.31</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">&nbsp;Nasdaq
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">100</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">60.30</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">47.80</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">33.10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">49.40</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">53.80</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT size="2">&nbsp;Nasdaq E&#38;P
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">100</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">207.90</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">155.80</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">154.60</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">273.20</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">423.90</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This stock performance graph shall not be deemed
incorporated by reference by any general statement incorporating
by reference this Proxy Statement into any filing under the
Securities Act of 1933, as amended, or the Securities Exchange
Act of 1934, as amended, except to the extent that the Company
specifically incorporates this information by reference, and
shall not otherwise be deemed filed under such Acts.
</FONT>

<P align="center"><FONT size="2">10
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "INDEPENDENT PUBLIC ACCOUNTANTS -- FEES AND SERVICES" -->
<DIV align="left"><A NAME="009"></A></DIV>

<P align="center">
<B><FONT size="2">INDEPENDENT PUBLIC
ACCOUNTANTS&nbsp;&#151;&nbsp;FEES AND SERVICES</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Company engaged Pustorino, Puglisi &#38; Co.
LLP as the principal accountants for the Company with respect to
the audit of the Company&#146;s financial statements for the
years ended December&nbsp;31, 2003 and 2004. There were no
disagreements with Pustorino, Puglisi &#38; Co., LLP on any
matters of accounting principles or practices, financial
statement disclosure or auditing scope or procedures in
connection with their audits. Representatives of Pustorino,
Puglisi &#38; Co.&nbsp;LLP are not expected to be present at the
2005 Annual Meeting of Stockholders, but will be available by
speaker telephone during the Meeting and will have the
opportunity to make a statement if they desire to do so, and
will be available to answer stockholders&#146; questions.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The audit fees for professional audit services
provided by Pustorino, Puglisi&nbsp;&#38; Co., LLP, for the
audit of the Company&#146;s annual financial statements for each
of the years ended December&nbsp;31, 2004, and December&nbsp;31,
2003, were $75,000 and $85,000. No fees were billed, or paid by
the Company for audit-related, tax or other services for the
years ended December&nbsp;31, 2004, or 2003.
</FONT>

<!-- link1 "AUDIT COMMITTEE REPORT" -->
<DIV align="left"><A NAME="010"></A></DIV>

<P align="center">
<B><FONT size="2">AUDIT COMMITTEE REPORT</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee reports as follows:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee oversees the Company&#146;s
financial reporting process on behalf of the Board of Directors.
Management has the primary responsibility for the financial
statements and the reporting process including the systems of
internal controls. In fulfilling its oversight responsibilities,
the Audit Committee reviewed the audited financial statements in
the Annual Report with management including a discussion of the
quality, not just the acceptability, of the accounting
principles, the reasonableness of significant judgments, and the
clarity of disclosures in the financial statements.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee reviewed with the independent
auditors, who are responsible for expressing an opinion on the
conformity of those audited financial statements with generally
accepted accounting principles, their judgments as to the
quality, not just the acceptability, of the Company&#146;s
accounting principles and such other matters as are required to
be discussed with the Audit Committee under generally accepted
auditing standards. These include, but are not limited to, those
matters under Statements on Auditing Standards. In addition, the
Audit Committee has discussed with the independent auditors the
auditors&#146; independence from management and the Company
including the matters in the written disclosures required by the
Independence Standards Board. The Company&#146;s auditors do not
perform financial information system design and implementation
services, internal audit or tax services.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee discussed with the
Company&#146;s independent auditors the overall scope and plans
for their audits. The Audit Committee meets with the independent
auditors, with and without management present, to discuss the
results of their examinations, their evaluations of the
Company&#146;s internal controls, and the overall quality of the
Company&#146;s financial reporting.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In reliance on the reviews and discussions
referred to above, the Audit Committee recommended to the Board
of Directors (and the Board has approved) that the audited
financial statements be included in the Annual Report on
Form&nbsp;10-K for the year ended December&nbsp;31, 2004 for
filing with the Securities and Exchange Commission. The
Committee has also recommended the selection of the
Company&#146;s independent auditors for 2005.
</FONT>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Audit Committee
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Jan&nbsp;K. Smeets, Chairman
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Matthias Eckenstein
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Clint Hurt
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This report of the Audit Committee shall not be
deemed incorporated by reference by any general statement
incorporating by reference this Proxy Statement into any filing
under the Securities Act of 1933, as amended, or the Securities
Exchange Act of 1934, as amended, except to the extent that the
Company
</FONT>

<P align="center"><FONT size="2">11
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="left">
<FONT size="2">specifically incorporates this information by
reference, and shall not otherwise be deemed filed under such
Acts.
</FONT>
</DIV>

<!-- link1 "STOCKHOLDERS&#146; PROPOSALS" -->
<DIV align="left"><A NAME="011"></A></DIV>

<P align="center">
<B><FONT size="2">STOCKHOLDERS&#146; PROPOSALS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Pursuant to Rule 14a-8 under the Securities
Exchange Act of 1934, as amended, stockholders may present
proper proposals for inclusion in the Company&#146;s proxy
statement and form of proxy and for consideration at its annual
meeting of stockholders by submitting their proposals to the
Company in a timely manner. In order to be so included for the
2006&nbsp;annual meeting, stockholder proposals must be received
by the Company no later than December&nbsp;27, 2005, and must
otherwise comply with the requirements of Rule&nbsp;14a-8.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Stockholder proposals to be brought before the
2006&nbsp;annual meeting, made outside the Rule&nbsp;14a-8
processes, must be submitted to the Company pursuant to
Rule&nbsp;14a-4, no later than March&nbsp;13, 2006, or will be
considered untimely and entitle the Company to discretionary
voting under Rule&nbsp;14a-4.
</FONT>

<!-- link1 "ANNUAL REPORT AND FINANCIAL STATEMENTS" -->
<DIV align="left"><A NAME="012"></A></DIV>

<P align="center">
<B><FONT size="2">ANNUAL REPORT AND FINANCIAL
STATEMENTS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Annual Report of the Company for its fiscal
year ended December&nbsp;31, 2004, accompanies this Proxy
Statement. The audited financial statements of the Company are
included in such Annual Report.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">It is important that proxies be returned
promptly. Stockholders are requested to date, sign and return
the enclosed proxy in the enclosed envelope, to which no postage
need be affixed if mailed in the United States. If you attend
the 2005 Annual Meeting, you may revoke your proxy and vote in
person if you so desire, otherwise your proxy will be voted for
you.
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">BY ORDER OF THE BOARD OF DIRECTORS
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <IMG src="d24142dd2414210.gif" alt="-s- JAMES F. GILBERT" align="left"></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">JAMES F. GILBERT
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <I><FONT size="2">Secretary</FONT></I></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">Stamford, Connecticut
</FONT>

<DIV align="left">
<FONT size="2">April 25, 2005
</FONT>
</DIV>

<P align="center"><FONT size="2">12
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><IMG src="d24142dd2414298.gif" alt="(BAR CODE)">

<P><DIV style="position: relative; float: left; margin-right: 1%; width: 40%">

<P align="left" style="font-size: 10pt"><B>
PrimeEnergy Corporation</B>

<P align="left" style="font-size: 10pt">
&nbsp;<BR>
&nbsp;<BR>
&nbsp;<BR>
&nbsp;<BR>
&nbsp;<BR>
&nbsp;<BR>
&nbsp;<BR>
&nbsp;



</DIV><DIV style="position: relative; float: right; margin-left: 1%; width: 35%">

<P align="left" style="font-size: 10pt">P&nbsp;&nbsp;E&nbsp;&nbsp;C&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1

<P align="left" style="font-size: 10pt">600.000000<BR>
&nbsp;<BR>
&nbsp;<BR>
&nbsp;<BR>
&nbsp;<BR>
&nbsp;<BR>
&nbsp;


<P align="left" style="font-size: 10pt">C 0000001236 C O R

</DIV>
<BR clear="all"><BR>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="66%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD colspan="2" align="left" valign="top"><IMG src="d24142dd2414299.gif" alt="(BAR CODE)"></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD align="left" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT>&nbsp;</FONT></TD>
    <TD align="left" valign="middle"> Mark this box with an X if you have made
changes to your name or address details above.</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<HR size="2" noshade width="100%" color="#000000">


<DIV align="left" style="font-size: 10pt"><B>Annual Meeting Proxy Card</B></DIV>


<HR size="2" noshade width="100%" color="#000000">




<DIV align="left">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="35%">
<TR valign="bottom">
    <TD style="background:#000000;  width=3%"><font color="#FFFFFF">&nbsp;<B>A</B>&nbsp;</FONT></TD>
    <TD width="97%">&nbsp;<B>Election of Directors</B></TD>
</TR>
</TABLE>
</DIV>

<P align="left" style="font-size: 10pt"><DIV style="margin-left:30px; text-indent:-20px">
1. The Board of Directors recommends a vote FOR the listed nominees.</DIV>


<DIV style="position: relative; float: left; margin-right: 1%; width: 48%">


<DIV align="left">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="75%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR>
<TD></TD>
<TD></TD>
    <TD align="center" valign="top"><B>For</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Withhold</B>
</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="middle"><DIV style="margin-left:0px; text-indent:-0px">01-Beverly A. Cummings </DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
</TR>
<TR valign="bottom">
    <TD valign="middle"><DIV style="margin-left:0px; text-indent:-0px">02-Charles E. Drimal, Jr. </DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
</TR>
<TR valign="bottom">
    <TD valign="middle"><DIV style="margin-left:0px; text-indent:-0px">03-Matthias Eckenstein </DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
</TR>
<TR valign="bottom">
    <TD valign="middle"><DIV style="margin-left:0px; text-indent:-0px">04-H. Gifford Fong </DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
</TR>




<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>


<DIV style="position: relative; float: right; margin-left: 1%; width: 48%">
<DIV align="left">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="75%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR>
<TD></TD>
<TD></TD>
    <TD align="center" valign="top"><B>For</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Withhold</B>
</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="middle"><DIV style="margin-left:0px; text-indent:-0px">05-Thomas S. T. Gimbel </DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
</TR>
<TR valign="bottom">
    <TD valign="middle"><DIV style="margin-left:0px; text-indent:-0px">06-Clint Hurt </DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
</TR>
<TR valign="bottom">
    <TD valign="middle"><DIV style="margin-left:0px; text-indent:-0px">07-Jan K. Smeets </DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
</TR>
<TR valign="bottom">
    <TD valign="middle"><DIV style="margin-left:0px; text-indent:-0px">08-Gaines Wehrle </DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings"><FONT size="6">&#111;</FONT></FONT>
</TD>
</TR>




<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>

<BR clear="all"><BR>




<P align="left" style="font-size: 10pt"><DIV style="margin-left:30px; text-indent:-20px">2.&nbsp;&nbsp;In their discretion, the proxies appointed herein are<BR>
authorized to vote upon any other business as may properly<BR>
come before the meeting or any adjournments thereof.
</DIV>





<p>&nbsp;
<DIV align="left">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD style="background:#000000;  width=2%"><font color="#FFFFFF">&nbsp;<B>B</B>&nbsp;</FONT></TD>
    <TD width="98%">&nbsp;<B>Authorized Signatures &#151; Sign Here &#151; This section must be completed for your instructions to be executed.</B></TD>
</TR>


</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt">NOTE: Please sign as name appears hereon.
Joint owners should each sign. When signing
as attorney, executor, administrator,
trustee or guardian, please give full title
as such.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="16%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD style="font-size: 8pt" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Signature 1 &#151; Please keep signature within the box
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD style="font-size: 8pt" align="left" valign="top">Signature 2 &#151; Please keep signature within the box
</TD>
    <TD>&nbsp;</TD>
    <TD style="font-size: 8pt" align="left" valign="top">Date (mm/dd/yyyy)</TD>
</TR>
<TR>
<TD style="border-top:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD style="border-top:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD style="border-top:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
</TR>

<TR>
<TD style="border-left:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
<TD></TD>
<TD style="border-left:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
<TD></TD>
<TD style="border-right:1px solid #000000; border-left:1px solid #000000" align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/&nbsp;&nbsp;&nbsp;&nbsp;/</TD>
</TR>

<TR>
<TD style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
<TD></TD>
<TD style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
<TD></TD>
<TD style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>
<P>&nbsp;
<DIV style="position: relative; float: left; margin-right: 1%; width: 48%">


<P align="center" style="font-size: 10pt">1 U P X

</DIV>

<DIV style="position: relative; float: right; margin-left: 1%; width: 48%">


<P align="center" style="font-size: 10pt">0 0 3 5 2 1 1

</DIV>

<BR clear="all"><BR>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">

<HR size="2" noshade width="100%" color="#000000">



<DIV align="left" style="margin-left:4%; font-size: 10pt"><B>Proxy &#151; PrimeEnergy Corporation</B></DIV>

<HR size="2" noshade width="100%" color="#000000">

<P align="left" style="margin-left:4%; font-size: 10pt"><B>THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS</B>



<P align="left" style="margin-left:4%; font-size: 10pt">The undersigned shareholder
of PrimeEnergy Corporation (the &#147;Company&#148;), revoking all prior
proxies, does by these presents name, constitute and appoint Charles E. Drimal,
Jr. and James F. Gilbert, and each of them, the true and lawful proxy and
attorney-in-fact of the undersigned, with full power of substitution, to vote
all shares of the Common Stock, par value $.10 per share, of the Company
standing in the name of the undersigned on the books of the Company at the close
of business on April 13, 2005, or in respect of which the undersigned is
entitled to vote at the Company&#146;s Annual Meeting of Stockholders to be held
on Friday, June 3, 2005 at 8:30 a.m., Roger Sherman Inn, New Caanan,
Connecticut, and at any and all adjournments of said meeting, hereby granting to
said proxies and attorneys-in-fact, and each of them, full power and authority
to vote in the name of the undersigned at said meeting, and at any and all
adjournments thereof, on the matters set forth on reverse side.






<P align="left" style="margin-left:4%; font-size: 10pt"><B>PLEASE SIGN ON REVERSE SIDE AND RETURN PROMPTLY</B>



<P align="left" style="margin-left:4%; font-size: 10pt"><I>(Continued and to be signed on reverse side.)</I>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>d24142dd2414210.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d24142dd2414210.gif
M1TE&.#EA!P%G`,0``._O[P\/#S\_/[^_OW]_?\_/ST]/3]_?WR\O+X^/CU]?
M7Q\?'Y^?GV]O;Z^OKP```/___P``````````````````````````````````
M`````````````````````````"'Y!```````+``````'`6<```7_("2.9&F>
M:*J>3K&^<"S/=&W?>*[O<Q#PP*!P2"P:C8D'XLAL.I_0*$KQ$$BOV*QV6T)4
MN>"P>'Q[/!3DM'H]-A/8\+C\6#`SYOB\GC8P#_:`@8(0#F:#AXAP!`\_B8Z/
M7`8/!I"5EE!>"9>;G$-^G:"A90^BI:8K?6BGJZP0?7>ML:)]![*VG096M[N6
M")2\P(D`"R[!QH*YQ\J``7_+SW)]SM#4:@0*Q=4D`P8`VE@(#M\DPP_3XTX'
M#]GC5`'>Z$\,I/$``0^P\4X-NN@-C+7T.7G0()ZZ!^($-BG$3MN",R@<"("G
M4(>!1GL:Y(N29$$*`0@K[D#P1@\`+P\6_P1\8N]!R1.+^HFT46CEG`,/$=SS
M"$623!-]7LZLT8!G'B]W"B"5!W"%@G-#9RQ0A4=!@&QU?A8I<&]C5"&%$N(1
MT-"'$TE+OA;Y1U$.`*@0V#))\J`MCP(%OR[(>R@)W"`#[@F5D8!JB9/KHJKS
M&F@>8R#ETM(`\,D$79L5_S4,E$3L$$G-;(`^<="P2`22#RWR'&01OL,)[%IV
M<P*T;(DI#@Q0(*"W;]\*$A`@P&"`<>.;7\A.HVZPH$7)=5`F:(**IA1<E9R@
MZ_S`O>LE"ID93[Z\^?,!?BL@D.#X`0#KXRSZ"Z?`\0'%%BW7\7!BB7\/@'<"
M2IMY]X4)(!DE0O\!XKC&R%,#.!"A<2TX,-QP"O#60"X)DG?/>=3!H9,<">3R
M(8AF"$!<:V8T!*`Y*5`QR0D@)19>92-XP:`9?`5AWP`,L,=>;'"H(^`);^$7
MQ0$EGCB)``U<.%P#+XY'$F8TU/$:"2\J^-]X<,G8XX*"W0AC$@&P)DL2F[U%
M@``/F9'F$P2<*$!L^T&0580.;)A2`UC"`$"";26AP%(GS&/&+R/`)R>6-;)3
M3C]]A+;+`AA!P*0!<2+@FQ>9%C'H@T2^L,B1!1"PP&,ON'/./.&8L1P#`4@2
MT@@'H!0BESR68*N`\P3`@`%CGE+''0`08"N4QI5@"!/_+$`?"E[D68/_HAO1
M.I$7C)(`ZSS=#N!%G`TIND!;#C;DX):L-!!`868@@`T*?7A9PP%U1H=:H-AI
M!X26J<USKI98HIFK2R/0!>^8="$\@HP'\CJ>5J*4LVAT(X"$,8-3$H#9`3*J
M.0*Q-)P*&:C3)(&`"U38Z\X!6HIP@"0+:/+0-`!4F8T[\YB6A`&VTF.*`[HJ
MP"^O6@W0@*[D60&SNVY8&YBU"(::@Z)Y.>K?=.<HI80WBR"PVZ+PM"B"N%4L
MHHH##P6`K\,B+/(+@14GL--WRK4,3P$)".#D`KY=5-Z[5,>-0.$RS\B#@77I
M^="Y(L#J[3T*P+,NW!#XH6J*R:8$9XJU2#+-_S^,9B<R)`[8NH`#ZIA&;15\
M"SY>``0,@-F+"+":PILQ+*([#:H[.@E%5/PR0(T]BC=)0X/#,IV<V=SC#0!H
MM54\)PFTS4`QG:UPL'EW3@M!SK7?P$_AF!X]`^,^,')D)L/*"9=Q@09M`#N%
M$=?6/1;FU%`A]D)$SOKC@+8(X'`K<%)Z"@B%OEFK$-W*P>7\TX7R>*P&!4#<
M",HC`"SUP4:)2)4/#*"F0KC.!(]K`.NPP`U^(09C6>)42HR6J)TT0(,[L!4"
MCC2"#SH'$"!C!*"F`$(Y**54)+B>$'2#PR6M8%*'H!XC?MBHE.Q!B@8@#@-*
M9`;UQ2)!@@@B[;R8!/\>SH$!-9+3_98A(R^F(5F40YS?$%$`!C#P&>(17QKL
M=@8-]B&":B'#=/)PO.7-@`IZ#.06,H2'.LUI!O8`I"+U@9@ATB`)OYMD-0(C
MK1OXK8F:#$82.GB#.IPPE-6@`@5%4T145L-15(R!.BCFRF=((I.M8E<MJ?$/
M7'K/7[NDALET\(_3!1,8=8BE#-01P&,"`R>2K($DC.G,6_C-C2^H5S6740A?
M/O$A,-QF+&K%`T.)\Q@,0*!T?`#*<X*")#R0A!G=&0MU8!,5P*3G+NRV@W*$
M4Y^F,,`\9_`/90+T%##*02%2<U!9V#,'+4ED0T-1@&;*`"0&G:@H<(.#4;:$
M4Z.5Z!L.U'$5D-Y"63A`E$EE,1SS86ZEK1!I#18*TUL<#X,^N&=--]$'&N#D
M5CN512M5@!AO!I43!O!F)8]ZBW0*"B2G9*HI[*''`D#UHU*%A-WR))YB9;45
L`NB&">#3E:\"0R<,J,5;9$06LP)#>.190$;=N@J\Y&)[=,VK7O=:S1```#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>d24142dd2414214.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d24142dd2414214.gif
M1TE&.#EA6@(.`??_````````,P``9@``F0``S```_P`S```S,P`S9@`SF0`S
MS``S_P!F``!F,P!F9@!FF0!FS`!F_P"9``"9,P"99@"9F0"9S`"9_P#,``#,
M,P#,9@#,F0#,S`#,_P#_``#_,P#_9@#_F0#_S`#__S,``#,`,S,`9C,`F3,`
MS#,`_S,S`#,S,S,S9C,SF3,SS#,S_S-F`#-F,S-F9C-FF3-FS#-F_S.9`#.9
M,S.99C.9F3.9S#.9_S/,`#/,,S/,9C/,F3/,S#/,_S/_`#/_,S/_9C/_F3/_
MS#/__V8``&8`,V8`9F8`F68`S&8`_V8S`&8S,V8S9F8SF68SS&8S_V9F`&9F
M,V9F9F9FF69FS&9F_V:9`&:9,V:99F:9F6:9S&:9_V;,`&;,,V;,9F;,F6;,
MS&;,_V;_`&;_,V;_9F;_F6;_S&;__YD``)D`,YD`9ID`F9D`S)D`_YDS`)DS
M,YDS9IDSF9DSS)DS_YEF`)EF,YEF9IEFF9EFS)EF_YF9`)F9,YF99IF9F9F9
MS)F9_YG,`)G,,YG,9IG,F9G,S)G,_YG_`)G_,YG_9IG_F9G_S)G__\P``,P`
M,\P`9LP`F<P`S,P`_\PS`,PS,\PS9LPSF<PSS,PS_\QF`,QF,\QF9LQFF<QF
MS,QF_\R9`,R9,\R99LR9F<R9S,R9_\S,`,S,,\S,9LS,F<S,S,S,_\S_`,S_
M,\S_9LS_F<S_S,S___\``/\`,_\`9O\`F?\`S/\`__\S`/\S,_\S9O\SF?\S
MS/\S__]F`/]F,_]F9O]FF?]FS/]F__^9`/^9,_^99O^9F?^9S/^9___,`/_,
M,__,9O_,F?_,S/_,____`/__,___9O__F?__S/___P``````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M`````````````````````"P`````6@(.`0`(_P"O"1Q(L*#!@P@3*ES(L*'#
MAQ`C2IQ(L:+%BQ@S:MS(L:/'CR!#BAQ)LJ3)DRA3JES)LJ7+ES!CRIQ)LZ;-
MFSASZMS)LZ?/GT"#"AU*M"A)*T@'LK)2T`HKHU"C2IU*M2I5I$X%9ETQD.M2
MJV##BAU+MFS&%4^["OR:]1I7LW#CRIU+%^A2`&^3"@1PC:]6IG4#"QY,N+#'
M%5SU]EW\%R'6QY`C2YY,N;+ERY@S:][,N;/GSZ!#BQY-NK3ITZA3JUY-N25?
MQ7S]7E-<$(#MV[ASZ][-N[?OW\"#"Q].O+AQX2M8*U_.O+GSY]"C9Y:MDN]7
M@5S?SDYKD+IALX"_B_\?/]/[259I\SZ]KKT[>?#OX\M/:7YD\K;76-WOBI2[
M^_EAA0?@@`1J5%]/!Q9(E(`*-NA@0PGN%.&#/C%(X8483IB3AACF9&&'(!;(
MX4TCADC3AR:F^%Z)-;&HXDLHOB@C82Z6QQ)D!]48F7\@+>44CR+1!E&,,Q9)
M5XTRC>AC9!;YI9^!2A&)T5+I(1F1E`UA:>269%D)TX@?:IF0;$)21!V0'+7'
M6$AE2B0FEW!6Y>5+8![T9HX#68%8<@!881UB>MX'0%I+(;:74OD!:FA^@>K'
MIUMZ]H<7=MI=ARBC>B;*IZ)O^>@5H*]%ZJA3R:V%U*?)+=I4G*S&-:=+=1K_
M=.=_3\+6&&-)73=H7X_=:AU@@^JEEU_"$M2F6UHE!IA>:"$[F[*^SK8L8'E!
MNZ:QK6;;)5'U\6;G;F+VV9:MTAY:;J3]K3GMH>@Z)2RP`Q%K;)CAA7IKK^P*
MB)2]Y]9;[K5Y:BLP6*^ZYE"833;E[[_$,J784^8-^R^F_#7[%X-/RNKONQ=O
M#)A^$/^;E*T2RSKPR5,5S%*LJU;D';DEY[HK>M<Z#"\K,_MH:HX66JQ5?F2*
M3"W0`7.\&,<X%PVOR2@W793**[&,+45^AN?H4U5?C3-3B*UGF\/BBMKUUD#W
M>779MFF'G['W6;W?V9%:K%^N70.]+ZFD-CLW4UKW_\FTTX`#!75U#BV)(U4T
M8Q=P1L>>-&O@D!L\U.!14??QXXYASI'FD7=N$N4H@6[4UB-/FM'9+7'N^>HA
MB?XYZT?!+ON7W,[.INVX$SYY[AZISOOO#KE>DO"V^P[\\6/6CCQ&QB]_X61J
MCD2\],Y?U'SU#B)\TO0B<0_[]=@KJ/WKNZM$F\X'>Q]@^-J./[SR0Z(9D:JS
M1:0^6."S/Z#[)-WOD8OH,9Z>N#,K_U4E?_J;#_^H5[Z'\$U^#G1+6BXW0&DQ
M:U]_*16D,A4?!"8P/M&KW_;@UY#$^6YI*.0:H[:3+W:EQ8`_\>`'Q:.?L#TF
MA*TC8;QX4ZG>:.ECB8E2J?\`92YU^6E-,*S0#(WDIR`2)''D$TJ)H"A"JBE%
M@Z72BZ.0F*B0R2:)/9'A$@>S@IS][7T-9`C&(*A&@BRJ8<[BB\7X)<<7RD>,
M8Z0+SM1FI]#I,"%4_-E$YN9&2C7J/NL1E%/$939&WC&/)JK:U`H2R.[]$2&&
MPQ>)'@E)#*%N<2V+8E#`B,;WX+&38]FC8\[8OTM&19*F1.6#RHBF/>J+/JZ4
MY2EEB;BZ&81L%MPEGM+(2U`6\XY^.P@M8T)*C#2S:<(\)E&6J4R?T>E&%`P/
M5B#X3)1%4YIV,=TOQ<G,E1#265EA3_+`*4AV&J:,*`*FC<R7J_!D)T_RZ^;)
MONG_SIQ\LB#4I$D2`VBS>!D1(?JTXO/Z.1A5(L27+3)?OPQ*)A3IB(TEI%\%
ML^2BJIW*;=8<%0<K=YR2FO2D*$VI2E?*TI:Z]*4P16E*UF6KBB)T2'QK7/!N
M^9`:6<Z@5;Q5QJ#"3X;*9(_RD^<F48*5NG7*8>E99Y8HB=&%;%2$Z*,2H19I
M*GWQK38(10^/R$54H\H%ELK<E4Y(*:RG:,<K,9*:,=TDP9]])6D%?5+2[NJ7
M9FD0J$'U$WJ2^:^A&J6H9FU)0`T"T0VQ!(KG6]M_%`:9$$ZFJG;-2WZ\UI?U
M.&LQ--OKN@ABPZ[@S*ULP\I4$)O8E#CT(*^5T"4E8UG)_V`6JTX<X)]V]<5D
MX76T@$T/UOYZJZNT5BSP!"0Y94O,A"QP2'D:V<V(UEN)&0VP^5F3!B?(VI%T
M][@B^2=`U>J3A$ZD1!92G8"RZ)5![2HQ[3T5T"#F5@;)YBN&NDNJBKM:\")N
MN>.][3RE^!!+66HBZ;I4?WYD8'?]A4J8HLV.'BS4!/?7OU%9+"4!C*!<9DZR
M-M&I8+Z+88W$=IPXY(EY);+BCH@X,"0NL?4(FU8!VZ3%$,&QB2TLGAC+F"(:
M#K!1=!R\?OKXQQ`Y\893_!,B0\C(2.Y)D)_(80(WMYA'CK)"Q"MDJ3B9(5_>
M4I:U_"TFNX6\E?-P)\=,9C>B^?^7]/.RFB')YC8K><D$XY9T]LSG/E?&QFT.
M$HV_!>CRSCG0B(Y(#3$Z93E?.=&05G25KVAFJ(19(9>.=`(;K91)I^S0F@[U
M6AI+:+-D^J:B3K5S/8V=-XOEU,-4M:R[XFI*QGE;CYXUI.^,9[G`>K*Z#C5:
M5UUH2X,ZV"7F,F-K799?@Q79NV:UI@3C;-)".]&<[G2EQU)M[%X;R<IN"K-=
M=>QO&WG0#QTWN7-M[L1F>]3;-G5%BKV1;K>;2[SNM6$X5$8:Q]C>]RY2<M6(
M[L&8IXQ8Q$NDYHK+@"<VW%T63\0(*$X^2L[A#,WW$TF];\:2EKS:A!7&&?KN
MM4@[,!'_HS5/@YKDM1V8A5(=^3&1RM$Z"Y2Q;K4-0!F>I7U-$+6*>[FU97[,
M82NDY`8?YVTH'G*)<%=Q*VQ+B@%.]`8A'>+?.9"$5=O.B>3%7S:-==7SJ'$J
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MK(-_0'-V(O)+6\9_I82`D`-Z5&9W0Z9H$-A*$@@Y"GAF]`8@+F*`4;.!@`-Q
MAN-6D9<BZ*5S\C=").A-[+=99L<E'.(G>'%X!_B"`O-NKV<D$5)#9E-%W*>#
MV0)ZE<1R,J)U_=8F0TB$<8)T*&*!CH9\>#%!?71Q3F@D6#=)MS<C$5.%/->$
M63@CME=@/5@D!S(J2+B&+CB&,M*!\.0?1_@B/UB&V=6"_>>&($*!VK8>C_&!
M"E*#52B"NJ.'(4)WG]>!25A@E<>&>?]HB`ZRA<C'@&@X/QG(0)!((7:8B(3'
M*@!TB9:4B;/4B2H7.262'`0D<J*H('RX@("XB`6&@R.XB@0"@`48@R<3@J"8
M0[0X'Y*H%2<W,'B'AQ'8B^/!AVL'.\/HB,5HC.]$BK,1C"@C>@I1?K/HC(:!
MC&!H.\?G7+L($E2'C1MABVDEA>/A?OM'C!HHCH&1C`MA?[GC?I4ABX7(CG-!
M@>[(.^-WA<RXCO88%U`HC9WC)6+XCV0!CX"DB*:H=_A1D`89(+C8:N8H>4E&
MCPWWD&&1CYBTC=6CB^J(B1A9%12(B!UY)=_X$>$8DC5&<)0X.\OHD"I)%%NH
MD>%#C=[XD:'_&).'%9&;F$#=N$HX"6?;N"31!6+>II-!\6X(^4'HZ!LGN3CQ
MIQXK]%G`QD2:%&B@1Y(S)(^489$E9%")]UE&"3!DV(51II0<F4?[^#<GQ'=A
M5Y4R\EP8AG4T.48$:1'`U7;\-71,Q(\_1HYY(I#8DR`VF'QF66!/=RAO^6Q]
MJ7S^E6UU"4GU,7JY84UJYQ]/!7-3QR5A@HISR6I:*4OU0424QH6,>"I8`W3(
M(G1'J2))HS%+.)&L$II]Z$X3ATG6Z$":%%EL]'[7]WS]IB9RUV_6]YO&V7S#
M1QFQ>9S,Z7L_J4Q/V1&^V9R]]S6>@1O4F9W2D3;S6)S:^9U[MI:A_P23&-)$
M'U@H7_.*L\-ID2E-XCE)Y/D@[>ET-NB9":1Q/<E0[ZD600F.(5)#>*0GUAD^
MM.F*X'6;=I*;%_D\@CEO`FJ?OP-Q!=I/HTE<`FJ:"YH]:>DX]2F;A9%O2]E:
MDTF<N.$?\>F+"ND1Z!F$"<AL\VE4A(F=CMF&!0*@-G$7"J>>)I)O^>E?=XF%
M^].@YA.;T!1[+YI8,7H;9YBAR)2"_O2@8UDDX3:A![I^NV&BJHBBT(@3^Z)P
M<,)K(?ICW>)O+-B?**FE'CHD2ZBCU+=-R%5]S$:E&!8Q./17)SH8/3H5.`JA
M"G684O$A*9BG479P246(3%H8YAD77?IB0/_IIZ_DEZ7'IN#TG`38CR#YH7*:
MD5!J8W))$YFD&9`JJ&2VG^UTIW*1J>#1H8!TE3L44RWU&?SXBTA&JD*8I7BZ
MH=]!G%V*G5P'89:Z(%>(JH,ZHZ5JJW41IF=U0Y6)%=PY5A!&)6F*8,&4FKBJ
M:4W9&]')$2DY;\(Z.LJ*&W(G)8M*+6,5K6XB((.UI:/:'?.8K?46&-U*GQ/6
M(Y"A&X=S$2MJ6<@E*RVI9;2JH/-W5M6Z.9!ZKLR:&Y`AJ6H$J)VA1,0::C^:
M@V:!K"Y6L,%W*LOJIC)!+YM!HJZJ4IT*L6EGK&)AHR:!,(;CL>'JL(Y:5@]K
MK2,+I&$1K\R3(];_R74N^T0*>R*_M+-(.F\D>T`#RR;Z*A8-Z;,S$4CFJH_E
M%DY.^A%=>FN_6A1$61:9]&T`MZU"&4U[.BX6BY0#R&Y#(:JG(Z#B<K'W"K;B
MU[0ZD:@@8;:,JK8^R+8W<:0(UJ%(*[<-DK508;(;T;5YJ[</PK=%0;8M1Z2"
MZSF$*Q1N:SV(F[BLL[@_8;?5B+>0RXUTVQ)^2Y_->KE,*[8G(J0K&K>>NY"@
M&Q.->S"/6[K'([EUJX!1&Z6L&X_F0UA5:T'<I!.9"KBSJS]@I'J+-Y6;>1.I
M^TMPN[2]"X(KH47V)):,5Q,4.Z[)JY;+FY=]!Y<NL;G1U;G3*YG56UQZ_SDQ
MC`D3)(F>?-J]WDM/X'N]XSL2GUHZ<G.\Z.N>WPMU;!%5F^==:[,I6&.#I#N_
M3%F_+/164^EW00(D\,2]`&R;*N$C!(2NLNL_G2F["UQ,6?NQNO$M&+S!'-S!
M'OS!(!S"(CS")#S"F2NMLC*@%:R?)^PF",PHP?F_*UR3+7PE#!)_\Q+#@3O#
M@..ZX:5^JUJ8/,;#-'RZ1Q6[R$O$$E?#J6.VJ*?$GVME1'6\.PS%(.+#?;NK
M0VS%3H/%B./$,LS%L"C%J:K#8JPM7IRJ2DK!9WS%3!P5/K+&;3S&H_0>^1K&
M<WR.;SP6&)NC>=Q^>SRQ6LS&5/G'OA;(]SC(CO\QAX;,;8@\8F`<<DG<R`EC
MQ-GCQ&M1Q93L@-=8Q_AF3^`J&9N\.=V5QBF"K@]<6;L1KG@,;8QL%0[3R8(#
M)S=LL-^:L6E['I,L/KM,5U.KK8\\'A;RRG@9&1[+G4PRCL3L>#(($Z!QS-Z2
MR8?:85OROIIL5<:\RJ+\CEBS9N#WOM-14JP,JFWDKBX3S#-$6]J,+\N,.YG4
MB)3)JYYQS2:ILP'KR;)V0]Q!HJP,.9%AK\ELIHS[LM*)SF:%RD795+H1KO1<
MLJH<RG^X97+8T*X%Q(](S<&FM&98KP`=T7C*T?*,LRB,H70\R\@VS)+ZJ>"2
MRU`K1N^,RUL\CMN\):;_K&F7A1(O#=.M['94`])KS*J\5-,8F<TZ#4$T$T\/
M?1L,/:<&[8S_W-'38K8AO=,4VM0QZ2G['-.B)M0KO'+(QM4+K-'0!M8`O*2R
M1M;S>]-?;=6CS,+$VYMM?6U$!E>L%]=G'6+X:\!VG6HZMIA\N==W'5%[V9J`
M#;."+;Y_7=A;;1-J\[R*S=<WJGEZ_=B)-M=:39:47=EZ!IZ<W=F>_=F@'=K_
MO"#A*=I=:=K&A]K&/,ZF#2BJ?4.LS1R#.Q=:VU/)>MN*VLN'O-OK!A=4'12_
M#13!W2JU762\G:JX[=NZW=MP4=Q/EMO)C=Q1W-RT'=UE,=P5LMR9O=W<W=W>
M__W=X!W>XCW>Y)V1C0@I<K-?V'%5/5%#\:L8&GN[/N'>6P7?"59#0D'?7:5-
M">:_P&V8N+O?I=>O,`+@\2W2B.V)IG4H&9,4<R3<P(AY?@AU4AE#$8Y.$TZ5
MW;8L?16\ZA1:TZ<3()Y3%!Z\U+*T(RZ\$GY%VFW21E13/-W>8-F\C1V6DSOC
M:M'8A"WB.*XX-1[C//'`SFOCP7OCC5'CS7LQP@A8FA2^V#U3;IG0.[X3!:68
M,1Z.5;X8B[G+2Q-,P45U7=[DF?SD@9@G;U$J,_,:9Y[$UEM19`7A4;Z^P!KG
M$]/.-VI''0-4^C44B>/F"Y/EV7(F\I7GF$+@V9N86J\NY44TN8CNY`N3WXU^
MO5S.Y#A[)O;VZ&(.7(&.<QL'4!1].IBY,U)GO\A+19DYZE/N3Z$>=7D]Z?A4
MX@6\Z"RKF:1N00)(@QMGHNT!,D&Q-[2GFG0]P+U^'[_^6<$NZ^U-[*EI[,+;
M5$#1-F<^E5OAX9^.$=`>=,NBFH--R]?%*"8ZR??*F_/"N+L)P=^.O.%N[OM-
=R$=\X-]>E-6.KQ[MJX-MY^5][_B>[_H>.0$!`#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>d24142dd2414298.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d24142dd2414298.gif
M1TE&.#EAGP`2`/<``']_?T1$1$!`0#X^/O[^_K^_OST]/?W]_7Y^?D%!08"`
M@-[>WD)"0M34U#L[.P$!`?3T]/S\_-;6ULO+RW9V=M75U3@X.'%Q<;V]O?O[
M^\#`P,7%Q<+"PCP\/`("`N3DY*^OKX&!@?KZ^MS<W+JZNNOKZWU]?<;&QKN[
MNW!P<(:&AIR<G/;V]L'!P;FYN:ZNKO+R\K:VMMO;VT5%100$!(.#@\S,S)24
ME#DY.9"0D/CX^+BXN,_/S]C8V!`0$+>WM^_O[^GIZ;*RLG5U==K:VJ.CHP<'
M![Z^OFAH:')R<FQL;%U=75]?7T9&1C8V-BXN+C`P,"`@(,3$Q.#@X+R\O`T-
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MY0,#`V%A87IZ>HF)B<W-S1P<'"0D)*BHJ)65E4Y.3AT='6YN;A\?'Q(2$I&1
MD4E)23\_/____P```````"'Y!```````+`````"?`!(```C_`/L)'$BPH,&#
M`C,0C-#OP(%^"@<>(#"0HL$($?NQ>)B!HL6##Q%6%$FRI$F3!#X>'*&DCX\A
M6M#-BF!(("$JGI9EJA5*QI*'?LC(.V#$UJ4!+K@(M+#!WQ\>_';YX\/!'XV'
MU*#YRJ*KJ0<(LOP5Z*=H0!=+>3PH()3#"45^H(SX`\$OCK\'!1S0HD+60I%.
M.%Q4L?6!@8]@_:X8>,1-EPLR9"9@\Q!"8+U%KM9D,\%(3#,R;BCN<!:"U;<%
M9+[`V,:&0S\=#"AT2;;`GS]$AOP]6X%$8"TX$GYU\3>`BK](QB`)?.)BT(P"
M'OR].-.FGQQ_5738#N;JAA>!H4C8_VYAX#J-!K8IEGH%B)6%:+;A1!?2CU<'
M!7V<^'M%2!D.@0*4()<Z`BQB&R)Y2-=/&$^<8L(9I=BFA1G^%-./"-_4D$H"
M-CP@UAC^]-8/`UFPX<(M"/C3@02V,;2#&"FH4$4)MDT2BS]%)(:#*@`,4(!M
M``C@#S\J7"-0/L14X,D[_M2A@3^,Z*#&4D*`T01T_J`"!27]/.+/)AEX*($3
MGZPB$!086(6%`?`Q8HP_[`@DA"%C%",`>O[8$=8$_0`Q````/.,/&$D<\5\_
M";#PAS^?"#"";<I8X`\&_:RC1A%X6&"</T<,,%=#@;P#!@-2V'9$;BH(Q``&
MFZ#"!`#$5?^07C_S:$+!#8S88=L<;/C#0S^50`&``@),89LTY?AC0!=@"!1)
M$&%X$8(_ICQY!@RN"*0'!GLD4("'4_`#0S]"^+,-`1Z*,,,&*0B$3%-N3,+/
M"\K"X(]R9*4""`@6M&';`8LVT(\Q?X;`CS^BI(#%```><",\`IAC&PH'O]$/
M&DYP<HP!)]AV0@?^D`!1(B$@D$`/MC4BAC_T")2`#/@LL@>L@,C@CP<4O8`$
M`')\`8=M,$3B3QP"#4!!D)/0X@\G30RI@E+]?&,'%A0(X@\W/SI021HN_Z`$
M(!QX"($G`L7@3R($P$D`/]T`()`:$_CC1AC\F*V&"/YDVT\FRY3_0XT%6=C&
MPB;^"-Q&'8#J!X(74`D$UXT-"`"$;3L<+$4_6(C#3`[\E.K/"0=3&H$9`"AA
M!9Y2I.(/.``2,8H+GBC@3P"]S*I!.!=P\D40MBV`3YY%=Z("/S2N+N0`?>PA
MD`_-9"(&K(;\>$@)3P@$22%*>&O;!M50!,)4+-C61C4Y0!W%CV1(P`\U_GPQ
M"78"-3*+`(6D$;<_!$0WU@+\``J%/W@PA188U@]^$,-#="G>#W`@EGXLP`$K
M4(`!?B26@Z$"6&7H`Q,8T!1_3``:_E"`0&;0`S:<0!4F&)(B9O4(,>S!#X'X
M@/B^X(\Y",0!`+`&/V3H#W(<K'^F$,@F_Z;``V[`:@P_8D0$$@&@%WA"%Q2L
MP!($`A\V$$`N&?#%#3`A$#[0P1]&(`(_BN`/=-`H%`(Y@2_X`0(#?-$?_?"!
M!_M1`@$`0`4)8L8U6M`!QQDC+*C@!P1L4X$S-%`"%CB&.@:0)G](X6!C(4`:
MP.&%&51%+'KPQS``5($H].!5_G"4;430CRV$XU8^,)8_0.$(?XR@'[C@1]7X
M$08@U2&4``AB/QP!A#4,`E9>^)$X#O",Y7B-`4\JW`P$<AUYI,T?$1"`,$38
MCT,8QQ9SX`<K_/$$W@&C;"G@!P><8#8XAN57B["C*!B(`E4\TG$0\%`I'``*
MVQ0`%OYP32]PL/^+&_"C!;9I0!D:"`%86*(&,\""/6_ACQNH"@W(H(,J4B0`
MWL&Q'ZP8!`4*406;^>,*WO"'!.@H@!1PSJ*B2(`_EE&#=NW2#C900HJN\2-(
MB,`!`CD$"501`!N<PQ\5^,5#2,'-9Q+`"M-P6S_.=QQB\,,/_B@#,:`DD&-<
M@!\[8$,C^V$+H&).``@(@22D`P8-"*!H.E":$/B!"]N,`&1C$:@R"F&&<O+`
M4RCH!QQ@40-W\*,1MM'`+_RQ`H%880W`\`,34L2/1UWT!10`PR.\80/;`*&5
M?(*``+2!B`'4TA\U.)@`%'"!+IIC`LE(D3:.X`\U7$$/`I$$"58QBS7_U$*D
MR1`(&4>!+G^P0`#2H"8D`/J%#T3%'Q88AS_.()!N4(`?\-B&>![0CT7!H1^]
M8``"<F``L2"A`F<M8"4650I^X,T?;_"4!OK1`U@,0QE0`*@_LN"IRY6@#((P
M@0!X8)LWK.P.CIM"+5"@!%B=S"H"X<`JG$$*'Z#LHS1\Y14$D`0%>-8VPCA8
M`OKPG>K"H`*:2%$GTI2("(Q!(&.@PBH8T()0>/#$_6"&/X#QS#;P0Q!*9:HC
M9,`///C##,WP1Q0$,@\O,.`'92@7'.4R4ALD``'6&(4_7$`(T#FN$C3P!QWX
MH4H0,'"]XX#""D[A`/F6)63]@$$4^D`($GEL_Q;^X&(_9A$'-?S@%;#B1Y#]
M04HM7,`$EGB`@5:9B\)!I`-#L/`E%:!A2VBC'P20!030\(H44H"U4`C",HH&
M@GO\DP^N_(5"ME!4P3D@!TI%QAO\X8,3"&`8RY4AU_IQBB$$(`O5Z&`_E&:#
M?D@`K"&0\@L&(0$#.(X%<I'##FWS`P?X8[V3L,`G@F&`2]AF`@>C0S\BX(8N
MI*`)*+"-%#3A#Z@%8`&'F$,Y4LB/P%V4!%S`Q"=BP4,(V,,?+8"E`UIA857Z
MT!^&L,00!%*%<6@!"2E"`(EY@0R!E&$+0YA!`X2V@`20TDMF,&H"4"T08#S)
M#1+0A9<L8!<S"&0'%/\8P`XD40C;Q-$?/<#N/A`@B`2AHAV*""\_=!`=5BS;
M'VOH[E@PIH)A&(`2A.SN#QKB`!4@(0'EQ((O_)$#P\H@%#W00YX[YH^'@``)
MV9@&O8%6!5]M6P!*L+`6;&,P?R1`!<X0B"-8(($DI/`>:4I#!.HA$!S$@`M-
M:$26B7`+BJ3#'_%X)@084`2EUF+5@5B``%;@#RB@P1^YT"T3:'D(4OLC`UW]
M0'UFD,,$^6$,)-`Y"SR4^N(10>CU&<`*1)&(336@NS&`-"#P@(DF.%8#M_R$
M0`)`!#>L8PEYOCR?^P$"39A@"QVUS10"4</7&,`=@N!';4![,`?4`&KQ@(#_
M9E+@CR6DZ1`02(5`7(&"/33ADC)XPA7Z<8?6/A,(!L`#`@02!=;F@W^(\&-V
MX0$"40QZ,``VP`>4YP_:X0]HT`^+``@`T`5I0%A+4#F.HP,>\@(#8!>N!#)Y
M90,=<`R(<`;AAF\@DWNX$`@UD`0)$"%BT30.U0\!<`22@`'8`"L.T$$*00)Z
M,`BG0`NKQH#7=B$&L`=X,`!K8!M=<#`#H`!QUP^Y$`0;@`V=X`]6$&[VD`&P
M(!!&\`)+8`4RD&4:(`E!T`\!2`.N-P`Y(&=LL`-6T0#\,"U1L'87=0=+,`"-
MX`U$U74>TFL58`4(```_M0NW\`-]U`\#$`&VL0+\_\`B8B%E+M`/EX!#*R`.
MP6!/^B$*_6`'@0``G3``2G8$MP0-CI,.FT`"#)!":;`I$%!*2X`$Y$`&EP0$
MT>$':=8!(98'@.4/(>`I`Q`"K2`0N0`$#2`,-Q``PG`)`4`($3`(`I$*&Z`/
M%S`",W!NK4!*I!``3,`"`1``<'`!A0!@_=`*E!``8O`!2;`%`9`"+O"-`N$"
M]'`!$Q`.G/"-!/"-"]`/<S`$T\`)3!``*"`-)^!2%W``WR@$2;``W]@#IA``
M7+(`%W`'W0`&YQ@`/'`!`;`!_0`![7`'.Y`$&Q``39`)K1``J=(/24`$3#`!
M%+"-%Y`)WS@N''`#IT`'KR+`C,17!P%0`7TR!#50#!?0!M\H!ZL0`$-0!,P@
($,EP``$!`#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>d24142dd2414299.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d24142dd2414299.gif
M1TE&.#EAQ@`G`/<``']_?T%!04!`0+Z^OO[^_D)"0CX^/GQ\?/W]_7U]?8&!
M@4E)241$1/S\_'Y^?H*"@DA(2+R\O$Y.3H.#@[V]O4M+2\_/SST]/4='1TI*
M2DQ,3#P\//KZ^E=75SHZ.KFYN4-#0_O[^S4U-0$!`<S,S$]/3YF9F5965D5%
M15%148"`@(2$A%!04'EY><'!P;JZNI>7ET9&1KN[NR,C(\O+RZ&AH7IZ>HF)
MB4U-35A86#0T-"DI*<#`P`("`L+"PK*RLHZ.C@,#`XN+BWM[>_CX^**BHL7%
MQ;2TM(:&AJJJJI*2DG-S<U5553(R,BXN+I:6EM#0T(^/CY24E%)24AX>'L/#
MPQ45%<K*RM+2TLC(R-O;V_7U]:.CH\3$Q`8&!H6%A5M;6U-34V%A83L[.S$Q
M,?+R\N#@X,;&QK:VML[.SM75U9&1D3,S,XR,C%U=75Q<7%145&=G9RHJ*C@X
M.#`P,`<'![&QL=;6UI"0D'=W=[BXN*"@H,G)R3DY.:^OKXB(B.7EY6UM;<W-
MS9Z>GG1T="8F)A\?'UI:6BLK*V]O;X>'AY65E?#P\.SL[-S<W"<G)^?GYZ6E
MI:ZNKC<W-UY>7OGY^?3T]._O[W%Q<?;V]K.SLVQL;`4%!:RLK)J:FC8V-HJ*
MBN;FYG!P<!@8&&)B8AL;&Q86%FAH:,?'Q^+BXB`@(+>WM["PL)V=G6!@8/'Q
M\2\O+V-C8]?7UW)R<B@H**:FIG5U=69F9FYN;BPL+!H:&JVMK??W]]_?W]K:
MVEE96='1T9B8F'AX>./CX]34U-/3TU]?7^[N[IR<G+6UM>'AX:2DI!<7%^WM
M[24E)?/S\QD9&79V=MW=W0H*"JFIJ6EI:>KJZHV-C6MK:R0D)&5E9=G9V9.3
MD][>WAP<')N;FZBHJ"TM+00$!`@("&1D9)^?G]C8V*>GIQ$1$0T-#0D)">CH
MZ!04%.3DY`X.#JNKJP\/#PL+"QT='1,3$PP,#.OKZR(B(A(2$NGIZ2$A(6IJ
M:A`0$+^_OS\_/____P```"'Y!```````+`````#&`"<```C_`/T)'$BPH,&#
M"!,J7,BPH<.'$"-*G(CPF!J!6'PUHQ;I&)8]YXXEZ<:*RSD"G2)!2=5)8)8]
M`UQ\4Z;`DC\"!^+<R"1FUBY90#Y$LG!-8(T8'2P-J:#AV2::',`@$%A-`A<H
M&+0%BR#%!!\%:00^*1"'`!@&4LS@LO"$7Q&!15($"*%(`Y!&V(B9\"-)X"`0
MA_PQ@0#`#*90+#3L27)$X`$+@0@XP*&`QI=08`@!$@@JE2TB!5!(NB1``K@S
MOR1L]G<C2XMN'<JTT((D!@"!#<#`*>?(Q`L[?UX)3&2I0PD\Q2L4@=+E12R!
M#P[\^/</S0'JK`+4N/"OQR53_VPD_^LG<(4K40H*#-BWVLF_`L>HOZ$0@)0-
M/Q4$JJ#N2`)U,\QL8X`%G$SESRC_3#(`=0'<T,\"M62@B4!]4%?)./\(8,$H
M+^2PQ@$"`4`=`0S\TX\RD_!SBQ*W^2/B/_[L8Z(Y_:!"'0"@M"+0%*T@8@8=
M)J["!#_4\2.0!DG,$`)UFUQ"'09V4*>'0"?4L`,_\3C23Q?]_$/'0-1I4TL_
M4<S2SQD"_2,#=<[X0%TL"ISR`0X"?7/`$=0-D`!UU!Q21)?QA%#*/P=\8(!`
M0$3CP`,H\*-+&0*-\=Z2_Y`3@1MB`%!$"0(Y0!T'`5#G2RF^&&#-/`-1D:&;
M_V2`!PMNP/\`1C("Q?$/.P3L\,\ORF0SP!M*+"&0$-3Y$X.)P^B@1S4U/!#B
M/T'XXXR)D/2CQ8T31"%0!T4@P@B0#/!S@@M%4BF)'`3<^`IU8?A!W1T"B5'#
M"?RX$TH_X!3P3Q]@_K-))_W`@$L_60@T`@G4C>((=1,\D``%#`CTS@$O4$?!
MBT?$\.<_5B"@RC]#4'"H/T@<\,<$%0Q`12\"/?(/`QQ0UT($$AP`0"1,"-0"
M=:F4^(\CNMQQ)C,#37M(%]25\`,.T0@!`1<"S?+/-+G^L\`Z;`QP`C<@^O.'
MA?KVTPL;_&#RP`J.%6N/B5?TL\V-,.`A$`0P],&!""]3H`VY_W3_(5`_=GQ)
M70*I4`<'W\T(1`HR./`S#3[]4"/`/T[T*T8D`0_13S<&JT%=-NN,\$\B"N0A
M2W[^)$&QQ0J\FP(R!G",@#?A\4.>/RLD8,($#$1`A2,"%?+/7-3=PH,&@0"0
MA!OZ_1?[/ZED8\$85Q`MT`;_,,&J&RND@,D:;W@BT"W_>.&/RTQ`8L``.?S1
MX@06AKJ!-4VPWP82SZKCSPPOI]&/&=11!!`&\3<8,&,+3?A'#M#`@@7]`TW^
M*$"2*`6`MV6O8O]@A$#@D(0-\(,3@#A3E]!U$^HDPA/]0,(--K`:<?2".H6P
M`'4"H8!$`,,8`@E&`C!8A1>E`@4;2T<#_VA'L=M-`!=/>$"X#`$I:?T#!$2@
M#BGX$0M2`&`9E!"(+:@#B3G\HQ0$N(<:QL`(Z^WO'RB@@.%`(8$.V`$'YQ!(
M[$90!G7\XP3=V$`$_)2`9_TC!),3`#ZRA@TDJ$!GT"*`RR#`B@5<@3HK:(,2
M_M8%>"#`BV[00PJ209VP^*,?+Z#"NOX!@#10YQ37H,Y%_`$A59#+#)-X09<J
MYP]*1>,=_5#!%S8`"8$$`1+4><0=F`2`":`A`P(Q00(^8+$7T:``RXB=$,5!
MJ%7<CAL)D,($"L"/45RB96BLA`DIX`IM`,`/./3'SOY!A,E9H0%4(`8(0H$K
M@2#B'SAPH"N></\*#'P``F@02`6Z`PG1_4(:'J"`+3SQ!<X4ZU@"P((.!D`)
M$QS2'Y[B!`$,8;55"$`0U&D#*&KPMRNX@Q?8BX4,IC"=?QC)'Q#813;\<2-I
M4*<":Z#.:AC`!2=HH0>-F$,O)J>#?LWB!_T``!#ZT4L$U,$2U/D$#XH7IU6@
MK@@)B`!U?/"B-,0`<_]HPH$(Q8\`".0/#@```#+`#W1LX28Z4"`OJ',`?E#"
M%@``!QC\R`'_O+,0TH`B(@8"BW](@$C_>`,0C%$!.TRA)?Y`P3_J$`(,=6`;
M9#@""Y0P`8'`;P3^P,$_#-`-';A`&Z"XJ*=@1(OA":(?LJ".$*[!C;__#6(4
M_L#;+SXP!4E0AP1_DX05:/J/!`"#.AW@!G42%\%.%.`*/1A&/X`1MG[=P@Y)
MU9P6TK0.ZA@"I/\(Q!=F(0C4[<$!B'7!BXB!@R1TR10(T`6A*"``@7CB%@\`
M0`P&((]UW"0<_R#%%J@C#'YT(!H).`<R,;K<,$RV$;`01`".(8^!X&V_U-$`
M$C10@20P@:3^</`_*N&.][3C$Q2X0"L4<-9/3:Y&.N!!"6Z@VG^,@`#0>*(O
M/DH=%7#C"7][@BK\<<\P\",,G:!.P5C)BN'>"(`*Q`-U(O"W&BR@"G700C_\
M]P\/]"L%V(V"#?I!@S0-\Q_WX(,4XW0%#0@$_P;HS=.+JH"!,?UC%`C(\0$&
M,#(IB*$%#I"`"TJQ9""58&'_,(8=0*`/`-2@OOZXSC_NP)U_]&(:1NC',.1A
M(&:,%K$IN$$!)/"$UPV'.M8(PLN&T0099,`3+6K=/[:@KPMH000#@,,?6,Q@
M+R#@'O\8@R`$<-Q_*$`*<O-'!H[@C#*0X1]3>`<*./D/"BAN&>BZD2^H,P4I
M_P,*`F$`,IS`CW$THQ\?T-<.^D6)<_3#!*XP@"#21`/JP`-A_SB%"EH@"!`(
M1`D)0.P`7L1`+H0J'@C0%7IOIP1R/$`%':"/-`3RB0Q!]1]PX,<"VB"=`D"'
M.EHHT0A"88@S!.`51?\5B!?[,55H'T$`L6B%O`0B#.ILP0LO"T4I9!"&/;2@
MQ>S$P&C;@>L2(,-9#.X!`L"C`UGTX\PK4,(BCJ2)';P";RD8`!,PZ#=_2&`7
MCQ#G/QQPYBD`(4\"D8`4Z%`%=!#C`DC]1SC8_2=%$*(?\Z8IE*V`[QP\X!J:
MN-TBXOR/@5/GG\&8'%`];0-^C*P-VH@"`'J'@]4\>P$#!AD_4!`(8>P!`FG[
MAS)"-8)VA"/3Q:!")002JDFH\1\0*$<`*C`(5Q#0']P)`@?B835&>(,?;Y""
M#00BZTP<ZQ.-^,0`#I%$@>RI!_X0G@&RP'*X*2+M1Z!%)B0%AP%`P($\2#O_
M%V:0KN+:]!\L2'+?MM4*$9!`'32209?0851)]$,!U>B'#]*T[7^X0X;_(`83
M4`WR9!1YT'*&]P\\``&#$"J<\`KSH'D7\&;:(`0`<`(#H`',A3<2D'FB$`$Q
M\`32@0(T]Q\@0!W#X`'/1`+Y,!#<X0&(Q0(PD`.T=P@P(!"30P\A`&P0@`_S
M\$\U(`P"H0B?`@'_<`%5(`)5D`)`P&NK10"J4@`6T`^(E0="<(,P!0QR4`9K
MDP+G<`+4UG49X`>(\`PW<BW_D`(F0!W*L"/OP`+\0`]:<`&2$"K0T"\`8'^@
ML`G]8`%I`F6%``74P00*@`M8<#M%(`H"]R)\D`*U_S`YZL`+,H)>(V,"<0`#
M```",K`!C2`0<44*#2`ZV!`!4R`,"7`$"R`0>4`=O:`O(P`(WO!,6.`-(2`0
MK84"#H0#Y9`"3.`)E#!U_J`!_\`)E5`'B84/<B`#)5`#?>0/LD8$DK4!RB`'
M5=`!G8!T>Q($!/`Q4F@`^`8`-Q`,:6<!N6`-%=(!:-`!>+)^H:4)<H``-P)>
M<$`-U*%!_L`M%5`OE]`/NZ`OL#`0]/`/V+`+_>`)B=`/X.8/ZA`*U)$+6$`=
ME'`#HG`&=.(/G0``B"4#^_$/5W`(23`YZ8``"!)P@A<'7P``$D`!3=!+_L`&
M[Q$S&,</$+`)!Q`!J"-I6_]0`N63"7U`#`+@"')0BTY4`H@E`4H0`&Z`#&^P
M!^-#':]`326P!2(0`9B0`#_G#\3R1Y)E`*DP"2[@(4BWBN:3#<.3:49P(U^`
M-OX@`/PP`\_`'?.Q0#;6B<$X"(@`CZ0DB/]0`4]`'5<@$#E0!$W@`_!`#%38
M)?\H$`&Y6QNP!K@0`%B0)FKV,L56`@_P!31`#D9A"XC%`UF9!F&P!ET"1E;P
M#RU@.P*Q""RP"`"0,A[01"YI`)E`'7&@<28@#$<0,2ZB9%W2`Z'0!*@@`%?P
M3@(A!R_C0$RP"#CP"TH@`6T0+\NE:A#`"(40`?KP!%>)!-1!!*'2#]8P!SS`
M`KO_(Q!@`"UG%`!<TG(JL`(F\#=H,`K/$%<X$`$EL"8<.3=/D`UX:0/XU@%K
M^`_;Y0\YL`P0D`7CH`9D-D("47Z)<`3]<`VWT`_%D";M0!T,4&Q@H`)X``P8
M(!"[0`B(Q0\O8@%A$)Q=Y@\?@PFHB96XL`8.D#(!8"`)U`^SF3W\D`&WD`"2
MT*'^L"?_@`IX,PTAP`Q\$`!JH`,$$#QHY$`!``0L\`:@$"M401WUH&H,4`\[
MH`>VUR(O`BI=5@4S$`$0H`!JB0W=T0!,5P47\)`@HP)V$&Z2,`K?\@]Q$`$&
MT`K480X"X2H[T``]II<8D)5+U@]*8`A&P`D"8@3ZDG+^_X!S.9`$,2`$I]`/
MD4D`G#`,U$$'>AD+`*`$?"!X@1"B+Z('&@`#7?)4JM)XMP,`;B`$#@`',D`&
MJZ0K_9!YI\`/;"`*"1!XSL>;T-((,W`&!=`.9#`0@](X#`($"W`"-\`$4.,/
MHD`=C=`#PU,&L$`!O[`&S9B51'""'G0E+'`#H-`IW0&%_S`'/K`!X*4`#\"4
M_L``?@`-6X`]87`$*;".\,)*R%`(Y8<-;.H*63DE,/4$;'`&=:`&!G!,_S`#
M"RHZ8,`*8P`#;X"0:7)^TD,=Q@``T3`>`A$)>2"JU,$'<+`&PO,/C0!L=74[
M-W`(BN``*?`!?"<0>-,/4?0/U?_`#QZP!`[P`QZWF_]@!EWB!8PP"CX0`,-0
M"@926!B`0?W`!2?`!'@`!D(@$)O`1=0:`ZG@`0.``T"0!YY%'0BP`/^P`0/0
M!Q1P`E%P??XP!-UQ1E*H?X.C`L^YED=`!;R00#'`!0!5+LIF`LX`DRS0<L;P
MG^+H#\HQ"<5`#Z4"@APC$!=G`[L@`$*P!&<B$'5@2J.%N3D`!$H0`6;E#ZO0
M>$7R(G?@GX5E"`306@6FLFX@>6%`'ZOD10)0LZ$:`"T``)U0D>NT!<(8B89`
M`P)@#:70``*18V#@0!G0!CGP"U%P"%)`GC9&!-/0*I=`!A%P`EPP!%_[#PT@
M=`;@`^3_%@OO,$GJ-(PH^AXNT`]G^0\/@`3?P'JL8`^9,`D9$B%H0!UB"`ZY
M@)=B@+D)D`34,2'^4`+!L``6X`Z.<`$6<"PIAY=#X`<;H`C8,`EEY@]U0`S4
M80#U]@\=\`4WD`:?VPF)$*(;B04=H`1=D@T-`&#H-8'^('.1@)(44`%MZ`_8
M(P`URID2D`#*$P.]"CU"]P_K8`K`NPU4D*3^`"08@%@9<`-3(`I"P+P"00[E
MXP_RA7EAB@M2H+W^0(3_@`"2]0G;X`0\`">=%6GFN38%0`(&P#>Z!(P!H`?Y
MD`D>D(8RL`#VN4H:\`2J1QWDP)!W%`G4$9G^@`&MX$CH(`L&_\`*7<(&`H&7
M<0`.D_`%&-`/JU0'Q4`=I3"9*0``_*F;2:"(HTL=^&&J_R`.9:`JBC@RK^(^
M#/`"`K!*+ED`M,L/9"`%A&`'NKE.6C`Y0LP&)!``D-`$2-PE,8!8*,`-&9`'
M2,`$:AL(U-$`\H4!EM`'`]`!GM`U\/,/'"!93B`+Y$8)":"6JT5DHV4.;4P=
M9-J,_?`#JL`+=7P",J`!-4`=%5P-WS`#H?@/HO!("L0%2B80.+`=CJ,,%Y`%
ML<.HU%$-YS`&?\`$!K!*(Q!;_Y`.^`8&"K`(-)"*J8,)#L0/L@8.8=`&7;)N
M9`FBY!$*;:`3`+#$.T#([B$`95`\_/\@`M$``(T4>B3@R](P`U>@(8]@(.[!
M34_R!!40!G^P`+>7`B,B7PQ@!G+@?5+0C++6`))U`9<0#M>[`F<L(G7@#[2:
M!@:`N0>@`+7UKGI0"(U0Q\803>NX#6GW#8\`DP"PP?JP#-1!#`*Q`#5@`/S0
M`\=@`!\0*B+PR-01,@&P`G<'7`00!)F\L#;R#VXP`4M``Y]+#1X]RO_P`2D0
M#%W"#@U0FB2)*'&`!VL5`7-`O+EE(A>W"?S``H0``*O@9FM+'5-8/L_P"#O=
M#::`Q+GP#QJ`6"P+`2=@`F&0;/H0S>S0*HP@!RKR(1_W1Z%R`2YP)6&@5N3Z
MU1_3AR#`*BO_\``"'``_8`A$4,<:\`,=X"[_X$D+4`Y].CAH.`0P@()[C08B
M`%*]8`!0H"^T5`_4L02L4```8`L4BP`]`$S_4`+XY@J@D`BH\+E<,`L.9`':
M^0\DX+Q=\B4<A9$N+`7D('E+_#@"X1ZU2AVS<*.X@-,DZ+,6H"_ST`!D8`0"
M@`KC,!#&2874<0A1T`\X\`T5,+7^0`J?4IH%$`J%P`^D``/-6.$($#LB4`R&
M(`-P8`-J>1UU@*9'N`LI4`4,@P0"W,Y40`1Q50)V(`&^Y5("<0B#4`@P2780
M6<__P`<"40(#X`%9X`6.L`'!["6X<2-V(``KL`);<A/C`,C]P#?:_X`$A)`%
MG[L&T>!`5_`BJ*`!B]`E+7A/JBH04;`$W```<+`*3=!$%<<`Y0>B4Y`\2+6]
M=Z`OXM`,37`&`N`+]"<0"=0$B`4&4C`%"_`$OX`_$50L]^2=<\`/<8!5S0,C
M7:+GB,`/A]`"?R`0-F"^+H.$_3"9"G`#(%8`[Y`.E9!`)1`)`B#(:!Y9R-`Q
M,O/8Y/"?J"`0(/`!<J`%TW!K63`YCNP/UC`X?A```$`(TU="%$T&&VQ.45"D
M`M$&2P!^LD:*3]`E5D``\O`/T;"BUQ`'0```4\`/\W`,*A>`,`FB$!`(0W`$
MGRMK6'`L7O`,^V`[RC!W`O$QX4(=8@`$)?\@GDR0!+2^G>CP#S%0#V2SFE[K
M#P]`'9=@A!X`82\@!L+P[&AL/MO]`QB@EP"`!.[*`#X@#QS@DAFP!PQ`CS_+
M[N-7?K:POI30E_]`9<HF`_.`,(X0#NGZ#\5:2]1A`S^0V)3[ES1U!M0Q!Y.9
M`S<``&KPN44`HM0A`R_B`AK0"ET2!)90FG4U,E$0"'F`DOQP#P$J*31+'6[`
M#W2P"<+P`J!7V__0#),CM*Y$9LXP$)Y&!UJ5X&V0`48)`L`(!]3Q#-0J`&9@
M#Z[FHGPU.7(@"]XP`"R0!UB8"$UM(FT``:RB`"T@`^Q.`5;0"/<D`<FP`.LX
MH?X``B;0!Y2""9/_.0O_"4$!0`$[0"[2H/IU/`=]GF_Y_@4M8`!3XJ=Z0!U4
M,)D8L`('<`8I4">B@$$\`!`._OU+MJ"<@7_L$$#[MX2?`7_^;@"8```,/VC-
M(K+YE\'?0#'\0#Q84JM?1``#(7D8Z,N9H'X\@D3T5^C?AA<#3RCI(.%:C$$1
MW_P;P8'=OW[M9D3`40Y`Q`D#"0CXUZ<;K0@5\CR(B.G?.'\,^WV#X&.@@ALR
M(@:H\HB7CG\8DH&H-1!+1`8U'B$8.*3+P$`F!IJ+V.]#GS/_I(TQ@G!,Q!`#
MA=D1\,"&@3O^0HSH-7"2V7_8ON!AQ2(BD$W\!EI(^>_%@F`!_LWCP.R?_RA^
M%R(*63*Q@AY3Q"*.^9?CXS]7_,@$B];II#\%`X%]&CB,"HE^:J;1?/3OD^I_
M)]:4T-`F0U!_4P9FJH/TU0X*.:2(BKAB8(@*_\:LH\6O`Y*G_+%A(`1LZZ>*
M&(P8"``%](A(@"1V.&:2?QAHI8!5!C(B(A`\,82O?PZ`0J=!5EOKA3E<^*>;
M/AZJ*J(&^M)$@`F6@.4#?QH(XIF!#$%E('U6".8*""+:`YL!!N+A@8%6,:B?
M?[+QIY1_9N''`R.7B`*`#M"(YRY_+OA'@N/"X(>-4S!YX;FH_AE&3$X8"<>%
M`\6AR91_G`!-`B5*2`$("3R)"(/UV@O@E5SX<?^CHHA4D$JV24@(AY]?OE`D
MH@.^(H`6I+I8@(>!5`!@F;4BF:$9EJ:H90-J!J*!0WY,.0X`60:*Q8Z6(CH!
M#1'.Z*$7$?1@X)\F(@(1@%5`F("0"Z#(L0=`!IIAFX&6>$"*+N*(")E$JAAH
M@#\&HL`5/JBBQ9\=_K&%G^<B(40*+F60,"+JBAP(#GXV.6!=#%`:B!$HT^&@
M`A[Z,0,>FISX9XX(!C(FBBG<6(,2$R+J8Z!GQ$$*D%P^P*:5`+^0"@*D4DGT
MD#RNB4@@=?P1`:D?%OCKGP<>4,L?`7Z0YYB+M7D'A1H&BZ@`<V0="`E'!GJ@
MU7]Z64L2*KH(HI<Q2*#_ZC'-!G)@EP(F.*``$B(*8IV!-,AB(!N06.:*)2):
M)H\D__D@NG^,(&40V8J%:]T-(E*D!4\`T"`"1(@H#"DB!K+RA"$`8-???XK1
MX)\>GB&#'P8@V>[!?TH`CX4H2B@ABA2XB`BA?QJ`!RE&8.$'DST"I-L?*#\)
M100*2/GB"4P'\J<[`7Q@0<5_*CIBT%I$0`!*-]!P(\-_,O,'A0CZB/&?%;08
M:)-(!MIF:'!FJ&($*#88H(";8!SH@!<"6"&0#=3PAX`@+!D(EA'_P00))62)
M):):8`(T`Q!9W<C1BF$);!__"$1N(@(*2CAE`0,HQ!8.UP\0.80<0K"!'PH`
M_SDH0.D?J?`&/W3@BW30A$(!``\&@)`!%G!C$WZ(2'[^<8F!].,2\#G!+@+4
M!M^)J1]E0(1_6J`R?^3!=S-`2@06`!X``.`'$5D`%\BPO']0X@>D0,-`TK`6
M:NCB>@E(@\/V,)`K<&@95*!!#X#A@7JP1`<T&4@B9``"!<2!,?,;`3$&,H=:
M_>,-7U#"!TX0$1B\(6XOH-L18H$,](W@&)SXQRT<Z(\'Y*`%#H``/VAQB<.A
MX#C&&``*$F"#)#RG->SZAQ<R00=^;*`*7J#)ZBXWD````0,2:`,.P!$1A?VC
M#!KK1SUFD(PP("-`BAC(*UB2"POD@A4:J`97_)&I?__4!"D^*``4`;"+!YT#
M$668PS\6\($<)&$@55B+"VA!@($DP`(#08$?!N*#!W&A%`HJA@=2L8%_8"E'
MZUO3!'`QA@%HAA/=Z!%XC/&`10B"$A%YP"DH,!`_M.8#L0B&PNC!@1'\`Q>/
M\\<$WG``!W33&<^(2"[^48'CQ$`3(E#``23Q'&PZ`DKB*`,]V&6!ED5$'L0"
M#P.ND8(*1`$#>(@(A809!*1``A::P`47`L2D?W``+KFP@R$^H(%9"&%EOM,%
M4KZ!`6_^DG:=H`,OJ+,`.V!`$@-QP5HH0(;C)(!X)_#$0'#DCP!0PQL\&($%
M-F`$EC@A(I48""XT$8`\CH'_'_Y`@"YP^`]H@.<4`(`!/\00D34<0`\#^8&C
M_J$,,'R`4W+P!U2CP8,24-0&H$A`/SS)@?D9XA\L>`51UB6`-21`$TR(R!)6
M`R5TX`,:-.@'($9!$S)X(0P*0DXYW@"&6L2!5"[C1"E"X`1O,,$2SEA%`I(!
MA$;5`1T<Z$</W``,VR:"&T5XH#OLX0\VC&("TE@"%KYB`BDDU!_5Z"<!0&`*
M%7R`$!'(1P&Z$9$AM$,"""!#+HJ`"EU\8@F[4$4^".,/..A!#%KP`B`6``@-
ML,,5$>$`/$:`!PJ\P1-_N$!F$&`%7OQ#%P8P0CSB(88;[($`"(@((QKACTS@
M%A!$1-:,/X9A#5[X`Q".(,(6*D$3?U1B"]9HP"MH<@D$$&!^-`DS96G2@$H8
=K@&\:`"6W?QF.,=9SG.F<YWM?&<\WSD$<PX(`#L_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
